#1
31st July 2021, 01:35 AM
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Whether commuted pension of high school teacher is taxable?
I am retired high school teacher.My employer high school was government aided school. The government give s VETAN ANUDAN and we get pay .Now I am retired and I commuted pension.pension and commuted pension is sanctioned by AG BOMBAY MAHARASHTRA GOVERNMENT.Now I got commuted pension through treasury.My problem is as whether this commuted pension is taxable or not? There is confusion.As I am getting commuted pension from Maharashtra government one says it is not taxable. While some others say as you are not government servant some part of commuted pension is taxable. Some people say as you got pay from Maharashtra government you are indirectly government servant SO PLEASE HELP ME AND TELL ME THE COMMUTED PENSION IN MY CASE IS TAXABLE OR NOT.
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#2
31st July 2021, 05:29 PM
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Re: Whether commuted pension of high school teacher is taxable?
The commuted pension is fully exempt from income tax for government employees. For a non-government employee who receives pension along with gratuity, 1/3rd of the 100% of the commuted pension is exempt. The rest is taxed, like their salary.
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Whether commuted pension of high school Teacher is taxable? | 2 | 31st May 2021 08:52 PM |
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