pension
karan vij (64 Points)
01 October 2017
what is the tax liability of person who receives pension after retirement
4 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86500 Points)
Replied 01 October 2017
If received on monthly basis then fully taxable.
Srikanth Yekkaldevi
(179 Points)
Replied 01 October 2017
1) As per sec 10(10A)) pension received by commuting is partially exempted as per the provisions of this section .
2) pension received on regularly without commuting is fully taxable .
2) pension received on regularly without commuting is fully taxable .
CA Rashmi Gandhi
(Chartered Accountant)
(86500 Points)
Replied 01 October 2017
Yes if you received lumpsum at the tym of retiremnet then same is exempted
Nisha Gupta
(31 Points)
Replied 01 October 2017
if provision for income tax in case of companies has become lower than the current tax that is tax. and the balance sheet has been filed....then what will be the accounting entry in next financial year
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