Salary standard deduction

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accountant
49 Points Posted on 20 June 2020
pension received by govt employee after retirement

will it get standard deduction rs. 50000
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On 20 June 2020 at 12:55 Report
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Quick Summary
Government employees receiving a pension after retirement can generally claim the £50,000 standard deduction. Pension income is treated as salary for tax purposes. While uncommuted pension is taxable, commuted pension is fully exempt for government employees. The standard deduction applies to your taxable pension income.

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Finance Professional
1526 Points Posted on 20 June 2020

Yes, pension received is taxable as salary, it will qualify for the standard deduction.

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On 20 June 2020 at 12:58
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Chartered Accountant
821 Points Posted on 21 June 2020
Uncommuted pension is taxable whereas commuted pension is fully exempt for a govt employee

Std deduction is available against the taxable pension income
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On 21 June 2020 at 13:44

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