banner_ad

pension income

This query is : Resolved 
Profile Image

Profile Image

(Querist)
18 July 2009 adhoc sum received from UTI PENSION FUND is taxable or not?
i.e. rs.25,000 invested by x on 1-2-1998 in UTI pension scheme which was claimed as exemption u/s 80c now he received rs.80,000 on 12-2-2009 whether it is taxable or not?
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
18 July 2009 Pl note that on 01/02/1998 section 80C was not in force. In view of that the depositor had either claimed deduction for the amount deposited u/s 80CCA or availed rebate u/s 88 of the Income tax Act,1961. Irrespective of whether a rebate or deduction was available while depositing to the pension plan the lump sum amount received towards annuity does not qualify for tax exemption and is thus fully taxable in the hands of the depositor. This can, therefore, hit a retired person hard if the effective tax rate falls under the highest income bracket.
Profile Image

CA. Gurdeep Singh Chawla

Profile Image

CA. Gurdeep Singh Chawla (Expert)
18 July 2009 agreed with Mr. Chackrapani
Profile Image

jalpa somaiya

Profile Image

jalpa somaiya (Querist)
18 July 2009 thank u sir but sir suppose it was deposited when deduction u/s 80c can be claimed & same was claimed , then wht is taxable amt.?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


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


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details