Taxability of pension

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 July 2013 Dear sir,

My client was working as a government employee. She was a teacher in government school. She has retired as on 01/12/2012. Now she had received salary upto november 2012. After 4 months, i.t as on 02/04/2013, she has received full pension for four months. i.e. dec 2012 to march 2013. Then after she receives monthly pension after deducting commuted pension.

Now my question is that, in which year full pension received by her will be taxable..? I.e. in fy 2012-13 or fy 2013-14 as pension received in 2013-14 as on 2nd april 2013 for 4 months of fy 2012-13..

Please reply to the above question as early as possible as i have to file return.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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30 July 2013 Uncommuted pension is fully taxable.so pension received from Dec-12 to Mar-13 is taxable pension

Querist : Anonymous

Querist : Anonymous (Querist)

30 July 2013 But in which year it is taxable..? Fy 2012-14 or fy 2013-14..?

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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30 July 2013 Pension covered under salary income

As per sec.15 Salary income taxable whether due or received which ever is earlier. so it is taxable in the financial year 2012-13 and assessment year 2013-14 only