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Example:-X retires from B Ltd. on 31st July, 2014. He gets pension of ₹ 1,000 per month up to 31st December, 2014. W.e.f 1st January, 2015 he gets 60% of pension commuted for ₹ 1,70,000. Does it make any difference if he also receives gratuity of ₹ 3,000 at the time of retirement?

Dated:- 10-8-2015 - Chapter No. 04 - Salary - Pension - [Sec. 10(10A)] . In case of a non-government employee while uncommuted pension is fully chargeable to tax, commuted pension is partly chargeable to tax and partly exempt from tax. Amount of taxa .....

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₹ 6,200 COMMUTED PENSION Commuted value of 60% ₹ 1,70,000 Commuted value of full pension (100/60 x 1,70,000) ₹ 2,83,333 If X does not receive gratuity Amount exempt (1/2 of commuted value of full pension) (1/2 x 2,83,333) ₹ 1 .....

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