Tax on Superannuation commutation prior to retirement age, Income Tax

[suresh sahu]

I resigned at the age of 57 i.e. a year ahead of my retirement age in the company. The company has an approved Superannuation Fund tied with LIC. If I opt for 1/3rd commutation and balance for pension, will my commuted amount be taxed?

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

If the scheme gives exemption to commutation then no tax will be liable. Please got clarified about the exemption to the scheme.