Whether pention taxable in this case
This query is : Resolved
21 March 2016
Monthly Pention received
Age 58 years
Person not retired as retiremnt age is 60 in his case
Doubt-Whether it will be taxable as salary??
It is written in section that monthly pention received after retirement is taxable. So my doubt is whether pention received within age period 58 to 60 is taxable or not As pention starts to receive from age of 58 years
26 March 2016
On retirement, an employee normally receives certain retirement benefits. Such benefits are taxable under the head ‘Salaries’ as ‘profits in lieu of Salaries’ as provided in section 17(3). Pension received before retirement is also taxable under the head Salary as ‘profits in lieu of Salaries’ like it is received after retirement.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Applicability of Ind As to associate of associate
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Confusion around Form 26QB fields
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
