EPFO(Employees Provident Fund Organisation) PENSION

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This discussion clarifies the taxability of pension received from the Employees' Provident Fund Organisation (EPFO). Periodic pension payments are generally taxable under the head 'Salary'. While the pension itself is taxable, investments eligible for deduction under Section 80C can be claimed against this income. The thread also touches upon how to report taxable pension income in ITR-1 for Assessment Year 2021-22.

sona1

sona1 (Querist)

23 December 2021 Note that I receive pension from EPFO(Employees Provident Fund Organisation) Rs. 1128.00 PER MONTH which has started in the Financial Year 2020-21 . please guide me urgent basis in the whether this income is exempt form tax U/Ds 80 C or is it a taxable income on this matter by referring income tax provisions .

If Pension Income is Taxable Income then which is the process it is show in the computation sheet for the Assessment Year 2021-22.

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Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

23 December 2021 1. Uncommuted pension received periodically by retired employee is taxable under head 'Salary'.
2. Any investment made in PY which is eligible for deduction u/s. 80C can be claimed against the income.

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CA.Pujah

CA.Pujah (Expert)

24 December 2021 Pension received from ex-employer is taxable as salary. Any income by whatever name called cannot be chargeable as salary in the absence of employee- employer relationship.

sona1

sona1 (Querist)

24 December 2021 PENSION INCOME SHOWN IN ITR1 Salary as per section 17(1) COLUMN ??

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