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Tax treatment of eps pension amount received from epfo after leaving the job after 7 years

Tax queries 650 views 4 replies

I HAVE RECEIVED PENSION AMOUNT IN APRIL 2017  FROM EPS UNDER EPFO  ON MY RESIGNATION AFTER COMPLETING 7 YEARS IN THE JOB.I WOULD LIKE TO KNOW THE TAX TREATMENT

Replies (4)

Uncommuted pension: Fully taxable
Commuted pension: 1/3 of the total pension is exempt.(If he also receives gratuity) or 1/2 of total pension is exempt (If he doesnt receive any gratuity)

Received a lumpsum amount from epfo without gratuity hence half taxable. I hope it is right

Received a lumpsum amount from epfo without gratuity hence half taxable. I hope it is right

Yes If Lumpsum amount from EPFO received without Gratuity then half taxable


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