ITR Filing: How Are Retirement Benefits Taxed? 4 Rules That You Should Know
Non-government employees will have to pay tax on 50 per cent of the lump sum amount drawn at retirement minus the gratuity; the remaining portion is tax-free.
![ITR Filing: How Are Retirement Benefits Taxed? 4 Rules That You Should Know](/_next/image?url=https%3A%2F%2Fs3.ap-south-1.amazonaws.com%2Fimages.outlookindia.com%2Fwp-content%2Fuploads%2F2024%2F07%2Fshutterstock_2319787081-300x200.jpg&w=256&q=75)
Non-government employees will have to pay tax on 50 per cent of the lump sum amount drawn at retirement minus the gratuity; the remaining portion is tax-free.
There are several benefits that central government employees receive after retirement; learn more.
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