Pension Misclassification and Correction in Filed ITRs
This query is : Resolved
18 July 2025
Dear Sir/Madam,
I am URGENTLY writing to clarify a doubt/mistake regarding my previous ITRs filed.
So the case is that, I have been receiving a Pension of Rs. 36,315 since my Husband expired in 2017. The pension was actually bought by the ONGC (my Husband's former employer) through LIC. So, basically the pension is disbursed by the LIC, monthly. In 2017, a local C.A. filed the ITR and classified my Pension under the Family Pension Section (in Income from Other Sources) where I get a deduction of 1/3rd or Rs. 15,000. I recently read in a news article that the Pension received from an entity like LIC, SBI, etc. because of a Super-Annuity Policy is a Super Annuity Pension, and IS NOT a Family Pension. I also remember having a copy of the SuperAnnuity Policy sent to me by the LIC/ONGC.
So, is it correct that my previous ITRs are wrongly filed? Was the received Pension to be filled in the Salary Section with Rs. 50,000 or so Standard Deduction? If yes, is there a way I can appeal my previous ITRs and correct them? I also receive a pension of Rs. 1,300 from EPS-95.
Kindly clarify my doubts.
Thank You.
I am URGENTLY writing to clarify a doubt/mistake regarding my previous ITRs filed.
So the case is that, I have been receiving a Pension of Rs. 36,315 since my Husband expired in 2017. The pension was actually bought by the ONGC (my Husband's former employer) through LIC. So, basically the pension is disbursed by the LIC, monthly. In 2017, a local C.A. filed the ITR and classified my Pension under the Family Pension Section (in Income from Other Sources) where I get a deduction of 1/3rd or Rs. 15,000. I recently read in a news article that the Pension received from an entity like LIC, SBI, etc. because of a Super-Annuity Policy is a Super Annuity Pension, and IS NOT a Family Pension. I also remember having a copy of the SuperAnnuity Policy sent to me by the LIC/ONGC.
So, is it correct that my previous ITRs are wrongly filed? Was the received Pension to be filled in the Salary Section with Rs. 50,000 or so Standard Deduction? If yes, is there a way I can appeal my previous ITRs and correct them? I also receive a pension of Rs. 1,300 from EPS-95.
Kindly clarify my doubts.
Thank You.
19 July 2025
No need to correct previous ITR in view of small amount involved.
From current year onwards file it under salary head.
From current year onwards file it under salary head.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding appeal to GSTAT
- LC charges in relation to Asset purchased should be Capitalised ?
- Value of property in capital gain
- Form 121 & TDS deduction
- Copyright software
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Regarding TDS Applicability For Director Remuneration
- Multiple trade mark
- Transporter Declaration form
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
