Which itr form should be use for showing pension income?

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sunita (Querist)
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26 July 2013
there are many query related pension :-

1) Which ITR Form should be used while filing Income Tax Return for showing Pension Income. and salary income.

2) if a person is ex serviceman and getting pension amt to 130000 p.a. so in which column pension amt should be filled.

3)in which column housing loan interest should be filled.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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26 July 2013 Pension income is coming under salary income only. can be filed ITR-1 unless he has anyother exempted income exceeds Rs.5000

Pension income show under Income from salaries. Row number 41 in income details sheet in ITR-1

Housing loan interest need to show as negative amount in row 42 in the income details in ITR-1

sunita

sunita (Querist)
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26 July 2013 I am an Ex Serviceman and drawing pension.
Pl intimate whether defence pension is exempted from IT. My basic Pension is Rs.7370.00 without commutation and after commutation it is 3685/-(50%).

I am now a pvt company employee also. My present salary is taxable but should I include my pension (Full/commuted) with my present salary for taxation ?

Please guide how to calculate my tax.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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26 July 2013 Defence service covered under Central Government, any uncommuted pension received by Govt employee is fully taxable and Commuted pension received by employee is fully exempted u/s.10(10A)

Yes now you have to add the private salary and uncommuted pensions received as Income from salary and calculate your tax liability and pay

Incase you are receiving commuted pension more than Rs.5000, it covered exemption exceeds Rs.5000, so you need to file ITR-2 not ITR-1

sunita

sunita (Querist)
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26 July 2013 ramesh sir,

if basic amt of pension is 7442

breakdown of pension as follow;-

i) 1/04/12 to 23/9/12 basic amt =

5531( uncommuted)-877= 4654(commuted )

ii) 23/9/12 to 31/3/2013 basic amt=5992( uncommuted)-877= 5115(commuted )

iii) its also include disability amt= 29971 p.a . so disability amt is exempted?

and now plz tell me which ITR should be file.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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26 July 2013 Disability pension Rs.29971 is fully exempted from tax & Commuted pension Rs. 4654 & Rs.5115 is exempted from tax. balance uncommted pension Rs.877 is taxable

Since the exempted income crossing Rs.5000/- you have to file the ITR-2.

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