Income from pension

Tax queries 491 views 1 replies

HI

A person getting income from pension from central govt on monthly basis on his pension book the total amount recd is Rs 130000/ and his bank account it is 175000/- the difference amount is arrears of last year.

so my question is which income should i show in ITR.

2) If i investing Rs 50000/- in mutual fund after 5 years i have withdrawn this amount and i got Rs 75000/-

so Rs 75000/- is taxable income

Replies (1)
Originally posted by : chetan


HI

A person getting income from pension from central govt on monthly basis on his pension book the total amount recd is Rs 130000/ and his bank account it is 175000/- the difference amount is arrears of last year.

so my question is which income should i show in ITR.

avail sec 89(1) calculation benefit for arrears



2) If i investing Rs 50000/- in mutual fund after 5 years i have withdrawn this amount and i got Rs 75000/-

so Rs 75000/- is taxable income

 

25000 (75000 - 50000) is your LTCG ( not income)


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