Pension exemption

This query is : Resolved

sunita (Querist)
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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)
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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.
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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

http://taxguru.in/income-tax/tds-pension-retirement-benefits.html

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