Mr. X a government employee retired w.e.f 01.10.2020 receiving ₹ 5,000 p.m. as pension. On 01.02.2021, he commuted 60% of his pension and received ₹ 3,00,000 as commuted pension. He also received gratuity of ₹ 2,50,000. You are required to compute his taxable pension if his ‘salary is due on the first of next month:
A. ₹ 24,000
B. ₹ 1,57,333
C. ₹ 22,000
D. ₹ 1,55,333
Answer:C
Mr. X a government employee retired w.e.f 01.10.2020 receiving ₹ 5,000 p.m. as pension. On 01.02.2021, he commuted 60% of his pension and received ₹ 3,00,000 as commuted pension. He also received gratuity of ₹ 2,50,000. You are required to compute his taxable pension if his ‘salary is due on the first of next month:
A. ₹ 24,000 B. ₹ 1,57,333 C. ₹ 22,000 D. ₹ 1,55,333