Income tax exemption
Naresh Gupta
(Querist) 05 September 2021
This query is : Resolved
I retired from a CPSU. I was the member of pension fund of LIC under NHPC self contributory and post retirement benefit scheme( I have switched over to HDFC life on my retirement). At the time of switch over I had commuted 30% of my pension. Is this amount taxable or exempted under 23AAB u/s 10 of IT Act?
kavksatyanarayana
(Expert) 05 September 2021
Consult a local CA or post this query in CAclubindia.
Dr J C Vashista
(Expert) 06 September 2021
The amount received as commuted pension is tax free.
Pradipta Nath
(Expert) 06 September 2021
The query may be posted in caclubindia.com.
