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Pension income

suresh (article) (146 Points)

12 July 2016

plz experts advice me regarding pension income. my uncle is receiving pension after retirement from nationalised bank and my question is how to show pension income under salary head. plz experts.

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6 Replies

CA Rashmi Gandhi (Chartered Accountant) (86500 Points)
Replied 12 July 2016

Pension is taxable under head Income From Salary.

CA Rashmi Gandhi (Chartered Accountant) (86500 Points)
Replied 12 July 2016

If he is receiving monthly pension then it is fully taxable & whole amt of income is shown in salary head

suresh (article) (146 Points)
Replied 14 July 2016

Can i show whole amt. Under salary as similar to salary income return.

Udgam Koomar (Tax Technologist) (1949 Points)
Replied 14 July 2016

yes you can show in ITR

Dinesh Mertiya (PROFESSIONAL) (761 Points)
Replied 15 July 2016

After retirement pension income and interest income are being received for the year
File ITR-1
Pension income should be shown under the head " Salary"