I am a retired Person from a Public Sector Undertaking. My earnings are
1. Pension from EPFO Under EPS-1995 scheme.
2. Annuity from LIC bought by my Employer.
3. Interest Income from FD and NCD.
4. Capital Gains from Equity/Debt.
Till last year I had been listing all the earnings under Income from Other sources (OS) + Capital Gains.
But from FY 2018-19 AY 2019-20 , there is a Standard Deduction of Rs. 40,000/= for Salaries/Pension.
I understand that First 2 incomes come under the head Pension and hence under the head Salary.
Though for the year AY2018-19, this does not affect taxation, but I wish to start showing these income from Salary. I file my tax under ITR-2
My Question is.
1. In Part A General, what should be my category of Employer. PSU, Other or NA? Even though I am retired.
2. What should I state as Name of Employer under the head Salaries Schedule S.
3. There is no TDS involved in Pension. Do I need to fill the TDS from Salary as Nill or leave it Blank.
Thanks in advance
CAclubindia
