Pension exemption
This query is : Resolved
26 July 2013
I want to know as to whether Income from Pension amount falls under deduction of Income Tax U/S 192. If so,how it is to be calculated and deducted.Further,deducted amount of tax from pension is refundable or not if I calculate arrear pension etc. showing year-wise break up.
plz need help
plz need help
CA PARAS BAFNA
(Expert)
26 July 2013
Pension is one type of salary and provisions of Relief, TDS and Refund are applicable just like as are applicable on Salary.
.
In case of Pension- the Banks, responsible for crediting the pension to the account holder are responsible for deducting TDS and issuing TDS certificates. Please read more on
https://taxguru.in/income-tax/tds-pension-retirement-benefits.html
.
In case of Pension- the Banks, responsible for crediting the pension to the account holder are responsible for deducting TDS and issuing TDS certificates. Please read more on
https://taxguru.in/income-tax/tds-pension-retirement-benefits.html
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