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?
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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