TAXATION OF EPF PENSION

This query is : Resolved

Sowmya.S.Balan

Sowmya.S.Balan (Querist)
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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 ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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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’.

Sowmya.S.Balan

Sowmya.S.Balan (Querist)
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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 ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 October 2020 All pensions paid are taxable including it's paid directly from government. No differentiation can be made.

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