Mr. Jugal is entitled to get ₹ 20,000 per month as pension from a private company after his retirement on 31.12.2020. He gets 60% of the pension commuted on 1st February 2021 and receives ₹ 3,60,000. He also receives ₹ 2,00,000 as gratuity from the same employer. His salary is due on the last day of the month. The taxable value of pension will be –
A. ₹ 1,56,000
B. ₹ 1,96,000
C. ₹ 3,20,000
D. ₹ 2,28,000
Answer:B
Mr. Jugal is entitled to get ₹ 20,000 per month as pension from a private company after his retirement on 31.12.2020. He gets 60% of the pension commuted on 1st February 2021 and receives ₹ 3,60,000. He also receives ₹ 2,00,000 as gratuity from the same employer. His salary is due on the last day of the month. The taxable value of pension will be –
A. ₹ 1,56,000 B. ₹ 1,96,000 C. ₹ 3,20,000 D. ₹ 2,28,000