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Pension - Sec. 10(10A)

Income Tax - Salary Income - 04 - PENSION [Sec. 10(10A)] Pension can be divided into two types: Uncommuted Pension Commuted Pension Uncommuted Pension -It is taxable as salary under section 15 in the hands of a Government employee as well as a non - Government employee. Commuted Pension is received in one time rather in installments. In case of employees of Central & State Govt. or Local Authority or statutory corporation, the entire commuted value of pension is exempt 10(10A)(i). Payment in .....

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of section 89 read with rule 21A . National Pension scheme In case of an employee joining Central Government on or after January 1, 2004 or any other employer- These provision are given below- 1. Contribution by the Central Government or any other employer to the National Pension System (NPS) is first included under the head ''Salaries" in the hands of the employee. 2.Such contribution is deductible ( to the extent of 10 percent of the salary of the employee) under section 80CCD(2). .....

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