Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Pension exemption

Save Share

This query is : Resolved

sunita (Querist)
Follow

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

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

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

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!