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Contrubution to pension fund

Tax queries 157 views 1 replies

I am working in a PSU. In FY 2018-19 my company revised the Pension scheme w.e.f 2007. And started Employer contribution @ 9.8% of basic+DA.w.e.f 2007. The employer deposited this as contribution in 2018-19 FY for 2007,2008 so on to the LIC.

What would be the tax treatment/liability of this money deposited to LIC in the current financial year.

Can i claim yearwise rebate of previous years towards pension contribution. 
 

Replies (1)

No. The contribution made in 2018-19 cannot be claimed in earlier years, but you can claim rebate u/s. 89(1) for salary arrears.


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