I was working in Germany for 4 years and returned to India. I am resident Indian now and received the refund for my contribution to German pension fund. Would this be taxable in India?
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Tax on Pension fund refund from Foreign pension account
Replies (1)
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Check your residency: If you are still in your RNOR transition period, the refund might not be taxable in India at all.
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If you are ROR: The refund is generally taxable. However, if your fund is in a notified country, Section 89A allows you to manage the timing of this tax by deferring it to the year of withdrawal.
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Compliance: Always report the foreign account in your ITR's "Schedule FA" to avoid penalties.
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