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Is there any tax on general provident fund received on retirement of government employee?
Wiki User
∙ 10y ago
No
Wiki User
∙ 10y ago
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Is the Employees' Provident Fund pension received after retirement taxable?
No, it is not taxable
How is pension income?
Pension income are those income that the employee received after their retirement from job.
Do state of Illinois retired teachers have to pay state or federal tax?
Yes to the federal income taxes. No the state of Illinois does NOT tax distributions received from qualified employee benefit plans, including a government retirement or government disability plan.
You have received a cheque for your provident fund settlement and as per your calculation the amount you received is very less How can you check whether what you received is correct or not?
there is a provident fund office where you can go and enquire about it
Eastman Kodak retirement fun monthly payout not revieved?
I have not received the tax forms for the end of year Kodak retirement benefits that I received for last year. Are they in the mail"
Whether gratuity is taxable under Indian Income Tax?
Gratuity can be received by the employee at the time of his retirement or by his legal heir in the event of death of the employee. Gratuity received by an employee on his retirement is taxable under the head "Salary" and gratuity received by the legal heir is taxable under the head" Income from Other Sources". In both the above situations gratuity upto a specified limit is exempt under the provisions of sec.10(10) of the Income Tax Act, 1961. For the purpose of exemption of gratuity under sec.10(10) the employees are divided under three categories: # Govt. employees - In the case of govt. employees the entire amount of death-cum-retirement gratuity is exempt from tax and nothing is therefore taxable under the head Salaries. #* The amount of gratuity actually received. #* Fifteen days' salary (7 days in the case of seasonal employment) for every completed year of service provided the employment is more than six months. # Employees covered under the Payment of Gratuity Act, 1972 - The employees covered under the Gratuity Act who receive gratuity have been given exemption which is the minimum of the following amounts. Gratuity received in excess of the minimum of the amounts mentioned below is included in the gross salary for the purposes of taxation. #* Actual amount of gratuity received. #* Half month's average salary for every completed year of service. (Average salary means the average of the salary drawn by the employee for 10 months immediately preceding the month in which he retires) # Other employees - In the case of other employees the gratuity received or receivable on his retirement or on his becoming incapacited prior to such retirement or termination of his employment or any gratuity received by his heirs is exempt to the extent of the minimum of the following amounts. The amount received in excess of the sums mentioned below is included in the gross salary of the employee for the purposes of taxation.
What are the ratings and certificates for Pre retirement - 1970 TV?
Pre retirement - 1970 TV is rated/received certificates of: Belgium:KT
What is the retirement money for computer engingeers?
Money received after retirement is completely dependent on the type of retirement plan the company that you retired from has. Also investments, such as IRAs, should be taken into account when calculating your monthly income after retirement.
What are the ratings and certificates for Ladies in Retirement - 1941?
Ladies in Retirement - 1941 is rated/received certificates of: Finland:K-16 Sweden:15
Why does it take so long for penion retirement benefits to begin after all the necessary documents are received?
Are you asking about private pensions or government pensions? With government pensions - the holdup is almost always in the administrative process. There are, quite often, areas that must be researched and/or documented as correct (e.g.- rates of pay/overtime - years of employment - locations of assignment - etc). However, when you receive the first check it should be retroactive to your date of retirement and you will not be 'shorted' any retirement pay.
How does a widow receive her husband's retirement that he paid in?
My deceased husband paid into GM retirement for 11 years and I need to know if I can received what he paid.
Can income received from a teacher retirement fund be garnished in foreclosure or bankruptcy?
Yes
