Taxability of pension income
This query is : Resolved
23 March 2019
If an Indian citizen receives pension from a Foreign Private company for services rendered outside India during his period of employment in that company, will such pension be taxable in India
a) if the person is a Resident but not Ordinarily resident?
b) If the person is a Resident and Ordinarily resident?
This pension is received in a Bank Account maintained outside India and is periodically transferred to an Indian Bank account.
Kindly quote the relevant sections of the Act and case laws in support of your answer.
a) if the person is a Resident but not Ordinarily resident?
b) If the person is a Resident and Ordinarily resident?
This pension is received in a Bank Account maintained outside India and is periodically transferred to an Indian Bank account.
Kindly quote the relevant sections of the Act and case laws in support of your answer.
23 March 2019
a) Not taxable.
b) Taxable.
Refer section 5 of Income tax Act.
b) Taxable.
Refer section 5 of Income tax Act.
25 March 2019
Thank you Sir.
Is is not taxable because the pension income accrues and arises outside India for Resident but not Ordinarily resident?
Is is not taxable because the pension income accrues and arises outside India for Resident but not Ordinarily resident?
25 March 2019
Yes foreign income of Resident but not Ordinarily resident is not taxable in India.
25 March 2019
Yes foreign income of Resident but not Ordinarily resident is not taxable in India.
10 May 2019
Sir,
For Resident and ordinarily resident person receiving pension received abroad (for services rendered outside India) in the first instance and thereafter remitted to India, will this Income be exempt from tax in India by applying Point No 1 of circular No 4 dated 20-02-1969? Though Point No 3 of the same circular states that it will be chargeable for ROR, are there any case laws supporting non taxability of such pension for ROR?
For Resident and ordinarily resident person receiving pension received abroad (for services rendered outside India) in the first instance and thereafter remitted to India, will this Income be exempt from tax in India by applying Point No 1 of circular No 4 dated 20-02-1969? Though Point No 3 of the same circular states that it will be chargeable for ROR, are there any case laws supporting non taxability of such pension for ROR?
11 May 2019
No case law supporting non taxability. Taxable as per point No 3.
11 May 2019
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