John who recently retired from service of a company on 31 st March, 2021 is eligible for a monthly pension of ₹20,000. He has received gratuity on his retirement also. He wants to commute 50% of his pension for ₹ 6 lakh. How much amount of this commuted pension shall be subject to tax in A.Y. 2021-22
A. ₹ 6,00,000
B. ₹ 2,00,000
C. ₹ 3,00,000
D. ₹ 3,50,000
Answer:B
John who recently retired from service of a company on 31 st March, 2021 is eligible for a monthly pension of ₹20,000. He has received gratuity on his retirement also. He wants to commute 50% of his pension for ₹ 6 lakh. How much amount of this commuted pension shall be subject to tax in A.Y. 2021-22
A. ₹ 6,00,000 B. ₹ 2,00,000 C. ₹ 3,00,000 D. ₹ 3,50,000