TAXATION OF EPF PENSION
This query is : Resolved
08 October 2020
1. IS MONTHLY PENSION RECEIVED FROM EMPLOYEES PROVIDENT FUND ORGANISATION AFTER RETIREMENT IS TAXABLE OR EXEMPTED ?
2. IN CASE OF DEATH OF EMPLOYEE PENSION RECEIVED FROM EMPLOYEES PROVIDENT FUND ORGANISATION TO WIDOW AND MINOR CHILD IS TAXABLE ?
2. IN CASE OF DEATH OF EMPLOYEE PENSION RECEIVED FROM EMPLOYEES PROVIDENT FUND ORGANISATION TO WIDOW AND MINOR CHILD IS TAXABLE ?
08 October 2020
1 Taxable under salary head standard deduction of 50,000 can be claimed.
2 Taxable amount above 5000 which is exempt.
Pension received by dependent family member of the retired individual is known as family pension and it is considered as, ‘income from other sources’.
2 Taxable amount above 5000 which is exempt.
Pension received by dependent family member of the retired individual is known as family pension and it is considered as, ‘income from other sources’.
09 October 2020
thank u sir. i have a doubt sir. EPF pension is paid out of the contribution made by employees in previous years. which is also allowed under 80C. then why it is taxable ?
09 October 2020
All pensions paid are taxable including it's paid directly from government. No differentiation can be made.
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
- About TDS & Income Tax
- Under construction property in ITR
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- Building tax payment deduction in rental Income
- Not able to file ITR
- TAX AUDIT QUESTION
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- LIABILITY ADJUSTMENT
- Capital Gains on sale of residential flat
- Accounting with Claude
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
