My father is a Defense (Army ) Pensioner and after 7th CPC he is getting Pension of Rs-45090/ per month.In this month His Bank (BOI) deducted Total 20% TDS at the full amount.Please clarify the tax deducted is right ? if yes then what will be the proceedure to save the Tax legally. (Total Pension Per year comes Rs-541080/-)
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Income tax dedution on army pension
Replies (4)
MAYBE YOUR FATHER DID NOT SUBMIT PAN CARD IN THE BANK.. THAT'S WHY 20% GOT DEDUCTED.. ELSE ITS ONLY AT REGULAR SLAB RATES
uncommuted pension is taxable but cant comment why tax is deducted at 20% by the bank
Go to bank Ask from them TDS certificate see the PAN file the ITR and get refund if any
SIR MAY KNOW WHAT ARE THE CURRENT SLAB RATES OF TDS.PAN NUMBER HAS BEEN FURNISHED TO BANK.
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