Exclusion of commuted pension value: commuted pension sums are treated as never includible in taxable income. Any sum received in commutation of pension is excluded from the recipient's total income for income tax purposes and is deemed never to have been includible when computing taxable income, operating as a statutory non inclusion rule that removes commuted pension amounts from the tax base.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exclusion of commuted pension value: commuted pension sums are treated as never includible in taxable income.
Any sum received in commutation of pension is excluded from the recipient's total income for income tax purposes and is deemed never to have been includible when computing taxable income, operating as a statutory non inclusion rule that removes commuted pension amounts from the tax base.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.