What is meant by commutation?

What is meant by commutation?

Definition of commutation 1 : exchange, trade. 2 : replacement specifically : a substitution of one form of payment or charge for another a commutation by money payment for the exacted service. 3 : a change of a legal penalty or punishment to a lesser one commutation of a death sentence.

What does Vasiyat meaning in Urdu?

n. A witnessing or witness. Wasiyat Meaning from Urdu to English is Testation, and in Urdu it is written as وصیت.

What is commutation allowance in salary?

Allowance granted to an employee to meet his expenditure for the purpose of commuting between his place of residence and office/place of duty.

What is cash commutation?

Cash Commutation [Noun / kæʃ kɒmjʊˈteɪʃən]. The right that a beneficiary has to exchange one type of income for another. More commonly referred to as a Tax-Free Cash Sum (“TFCS”).

What is Jaidad in English?

immovable property, assets, estate, real estate.

What does Nasihat meaning in English?

/nasīhata/ nf. instruction countable noun. An instruction is something that someone tells you to do.

What is Vasiyat called in English?

/vasīyata/ nf. will countable noun. A will is a legal document stating what you want to happen to your money and property when you die.

Is commutation of pension tax free?

Taxability of Commuted Pension The commuted pension is fully exempt from income tax for government employees. For a non-government employee who receives pension along with gratuity, 1/3rd of the 100% of the commuted pension is exempt. The rest is taxed, like their salary.

How is gratuity calculated?

The calculation for this is: Gratuity = Average salary (basic + DA) * ½ * Number of service years. In this case, the service years are not rounded off to the next number. So if you have a service of 12 years and 10 months, you get gratuity for 12 years and not 13 years.

How is conveyance calculated in salary?

There is no specific formula or calculation for conveyance allowance. The only specified limit for conveyance allowance is the tax exemption limit of INR 19,200 per year.

What is commutation of pension table?

The lump sum amount of commuted value of pension is calculated with reference to purchase value for the each next birthday as laid down in the Table of values prescribed from time to time and applicable to the applicant on the date commutation become absolute. The commutation table as prescribed by the Govt.

What is the benefit of commutation of pension?

Lump sum payable is calculated with reference to the Commutation Table. The monthly pension will stand reduced by the portion commuted and the commuted portion will be restored on the expiry of 15 years from the date of receipt of the commuted value of pension.

How commuted pension is recovered?

Restoration of Commuted Pension: Commuted portion of your pension can be restored on completion of 15 years from the date of receipt of the commuted value of your pension. In case the same has not been restored, contact your P.D.A./pension paying bank.

What is ghair Manqola Jaidad?

Urdu Word جائداد غیر منقولہ Meaning in English. The Urdu Word جائداد غیر منقولہ Meaning in English is Realty. The other similar words are Jaidaad Ghair Manqola.

What is the English meaning of junUn?

Passion is a very strong belief in something, to the point where you become excited or emotional about it. He spoke with great passion. /jununa, junUna, junoona, junūn, junun, junUn, junoon/

What is the best synonym for property?

synonyms for property

• equity.
• estate.
• farm.
• goods.
• home.
• house.
• land.
• ownership.