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 first day of the next month. The taxable value of un-commuted pension will be –
A. ₹ 36,000
B. Nil
C. ₹ 60,000
D. ₹ 28,000
Answer:D
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 first day of the next month. The taxable value of un-commuted pension will be –
A. ₹ 36,000 B. Nil C. ₹ 60,000 D. ₹ 28,000