Employee provident fund organization - family pension
This query is : Resolved
Sanjay Toro
(Querist)
03 July 2017
What is tax treatment for monthly payment received from Employee Provident Fund Organization ?
I am Ex employee of Private sector and 59 Years Old. receiving this amount since Dec 2012.
Web search confused me as most are informing that it is taxable to dependent of employee. and should be shown in income from other sources. No one says for this payment to living ex employee.also whether it should be shown in salary of OS
I am Ex employee of Private sector and 59 Years Old. receiving this amount since Dec 2012.
Web search confused me as most are informing that it is taxable to dependent of employee. and should be shown in income from other sources. No one says for this payment to living ex employee.also whether it should be shown in salary of OS
CA R SEETHARAMAN
(Expert)
03 July 2017
It should be shown in salary.
Sanjay Toro
(Querist)
03 July 2017
OK what about tax treatment ?
Sanjay Toro
(Querist)
03 July 2017
Dear shri Seetharaman,
Thank for your reply I understand I can get b1/3 of it exemption and only 2/3 amout after self deduction to be shown as salary.
Please clarify what shall i mention in name, address , pan of Employer column? as the pension is not received from last employer or any previous one but from Employees Provident fund Organization. .
Thank for your reply I understand I can get b1/3 of it exemption and only 2/3 amout after self deduction to be shown as salary.
Please clarify what shall i mention in name, address , pan of Employer column? as the pension is not received from last employer or any previous one but from Employees Provident fund Organization. .
CA R SEETHARAMAN
(Expert)
04 July 2017
Full pension received is to be shown. No 1/3 deduction available. Show previous employer details as the amount is contributed by previous employer.
Sanjay Toro
(Querist)
04 July 2017
thank you sir,
can you tell me 1/3 deduction available to whom?
can you tell me 1/3 deduction available to whom?
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