NPS Monthly pension

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Student
141 Points Posted on 16 August 2022
Hello experts,

The monthly annuity received under NPS are taxable under which head- Salary or IFOS?
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On 16 August 2022 at 14:18 Report
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Quick Summary
This discussion clarifies the tax treatment of monthly annuities received under the National Pension System (NPS). Experts advise that NPS annuity income is generally taxable under 'Income From Other Sources'. However, if the amount is significant, it can also be declared under 'Income from Salaries'.

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SEO Sai Gr. Hosp.
212444 Points Posted on 16 August 2022

Income From Other Sources...      

4 Reply
On 16 August 2022 at 16:42
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12 Points Posted on 16 August 2022
Salaries
2 Reply
On 16 August 2022 at 18:33
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Chartered Accountant
86505 Points Posted on 16 August 2022
Income from Other Sources , however if amount is material enough, you can also declare it under Income from Salaries.
3 Reply
On 16 August 2022 at 20:30
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Student
141 Points Posted on 19 August 2022
@ Ca Rashmi Gandhi mam, even if it is received from bank, can we show it under salary?
2 Reply
On 19 August 2022 at 10:39
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Chartered Accountant
86505 Points Posted on 23 August 2022
Yes you can show it.
1 Reply
On 23 August 2022 at 20:02

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