Is it that taxation on pension and family pension done differently? i read that pension is reported under the head salaries and family pension is reported under income from other sources. Does reporting family pension under heading of salary, make any difference to final tax value?
if a person gets both pension and family pension, how to report in ITR?
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Pension Vs family pension taxation
Replies (2)
Yes, the differentiation is as per IT act.
Person getting both the pensions will also report it under different heads.
Pension is taxed under salary head.
when pension is recd by pensioner it is salary income.
when pension is recd by his/her family member (dependent(s) after his/her death, it is family pension and it is income from other sources and not salary for the receiver.
Hope, logic is clear.
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