1. Uncommuted Pension - Fully Taxable for both Govt. Employees & Non-Govt. Employees
2. Commuted Pension - Fully Exempt for Govt. Emploees
Partially Exempt for Non-Govt. employees as follows
A. Emploee Receipt Gratuity - Amount Received
Less : 1/3rd of full value of Pension
B. Employee not receiving
Gratuity - Amount Received
Less : 1/2 of full value of Pension
Note : Full Value of Pension =
Amt. received in Commutation / Percentage of Commutation
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