Pension - [Section 10(10A)]

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..... tallments. 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 commutation of pension received by any other employee- In case of any other employee, if the employee receives gratuity, the commuted value of one third (1/3) of the pension is exempt, otherwise, the commuted value of of the pens .....

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..... 00% of pension. If no Gratuity and only Pension received: 1/2 of the amount of pension which he would have received had he commuted 100% of pension. National Pension System, in case of an employee Central Government/ State Government on or after January 1, 2004 or any other employer NPS is applicable to new entrants to governments services or any other employer. As per the scheme, it is mandatory .....

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..... f pension received by Judges of the Supreme Court and High Courts will be entitled to the exemption of the commuted portion under section 10(10A)(i) of the Act. [ circular no. 623 , dated 06/01/1992 ] An employee, holding civil post under state government is eligible for exemption u/s 10(10A)(i) of Income tax act. [ ITO (TDS) , KOTTAYAM. V. Mahatma Gandhi University, 2019 (5) TMI 1373 - ITAT COCHI .....

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