RULE 308 INCOME-TAX RULES 2026 Commutation of annuity.
RULE 308 INCOME-TAX RULES 2026 Commutation of annuity. 308. Any payment in commutation of annuity shall not exceed— (a) in a case where the employee receives any gratuity, the commuted value of one-third of the annuity which he is normally entitled to receive, and (b) in any other case, the commuted value of one-half of such… Read More »