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raj kumar ji (LAW STUDENT )     26 August 2011

Govt. pension is taxable?????

RESPECTED SIR,

                         IF A PERSON GET PENSION FROM GOVT.AUTHORITY HOW IT IS POSSIBLE TO DETUCT THE INCOME TAX ON THE PENSION AMOUNT OR INTEREST ON PENSION AMOUNT BY THE BANK .



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 2 Replies

Raj Kumar Makkad (Adv P & H High Court Chandigarh)     26 August 2011

Pension is also an income and TDS is liable to be deducted thereon by disbursing authority as per IT Act provisions.

Sadashiv Rupchand Gaikwad (Partner)     10 September 2011

RBI & ITD issued notification to the Banks who disbused Pension must deduct TDS on Pension as same rule of Regular Employe salary.Pension is covered as "Salary " income, you may produce proof of Investment u/s 80C,80D etc for tax Deduction


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