Monthly NPS annuity

349 views
User Avatar

Student
141 Points Posted on 19 August 2022
Dear experts,

I want to ask that my uncle is receiving monthly NPS income from the bank, so under which head this income is taxable - Salary or IFOS?
1 Reply Share Follow
On 19 August 2022 at 15:46 Report
Replies (8)
Quick Summary
This discussion clarifies the tax treatment of monthly National Pension System (NPS) annuities. While typically taxed under 'Income from Other Sources' (IFOS), there's a recent legal precedent suggesting it could be assessed under 'Salary' in certain circumstances. The thread also touches upon potential deductions for employer contributions to NPS under Section 80CCD(2).

User Avatar

SEO Sai Gr. Hosp.
212444 Points Posted on 19 August 2022

Monthly annuity from NPS is assessed u/h. IFOS.

2 Reply
On 19 August 2022 at 18:03
User Avatar

Chartered Accountant
86505 Points Posted on 19 August 2022
You can show it in other sources, but in recent case law annuity also declared under head salary.
2 Reply
On 19 August 2022 at 20:42
User Avatar

Student
141 Points Posted on 20 August 2022
@ CA Rashmi Gandhi mam, can you please name the case law?
1 Reply
On 20 August 2022 at 10:01
User Avatar

754 Points Posted on 21 August 2022
A resounding yes! If your employer is contributing to your NPS account you can claim deduction under section 80CCD(2). There is no monetary ...
1 Reply
On 21 August 2022 at 07:00
User Avatar

Chartered Accountant
86505 Points Posted on 21 August 2022
Here querist ask for Income from NPS
1 Reply
On 21 August 2022 at 07:19
User Avatar

Student
141 Points Posted on 21 August 2022
Thank you Dhirajlal Rambhia and CA Rashmi Gandhi
1 Reply
On 21 August 2022 at 11:41
User Avatar

Profession Business
28246 Points Posted on 21 August 2022
Monthly nps annuity
1 Reply
On 21 August 2022 at 11:49
User Avatar

Chartered Accountant
86505 Points Posted on 22 August 2022
Welcome Dear
1 Reply
On 22 August 2022 at 04:56

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Queries on Tax Invoice and GST
  2. Income Tax Auditor Tenure for Small Companies
  3. Sec 8 company sec 12ab reg
  4. AIS Password: How to Open Your AIS PDF?
  5. Interview Questions
  6. ITR Filing Last Date 2026
  7. Tds - filing Conso File for tax year 2026-27
  8. ITR-3 Filing For AY 2026-27 - Tips
  9. Capital Gain on sale of Depreciated Factory Gala
  10. Interesting Observation from a Recent Income Tax S

More recent discussions | Post

Related Topics :

Loading
Follow