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Pension under epf after retirement

Tax queries 1770 views 1 replies

Employees provident fund organisation ( Govt. of India) gives pension monthly as per the contribution made  and length of service  in the scheme, which is mandatory. Whether this pension is taxable and if so , can we claim any standard deduction on the pension amount received , while declaring the taxable income in ITR or is it tax free. EPFO  help desk could not clarify.

 

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Replies (1)
No, As you will receive pension monthly, this is an uncommuted pension & it shall be taxable to all employees whether govt. employee or any other.

You can claim deduction u/s 80C or under any other general deduction section but there is nothing like standard deduction.


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