20 July 2011
Sir, pension of my mother is taxable after standard deduction and saving, but we didn't pay tax. so how to pay tax at this stage?? and what is procedure for salaried in same situation.
20 July 2011
You can pay tax by filling up Challan No ITNS 280 and depositing it with the SBI or Bank of Baroda. You can also make e-payment. After depositing the challan you have to prepare a Statement of Total Income and file the return.
The return can be filed in ITR-1. If you are new to this field, take advise of a consultant.
20 July 2011
Pension is taxable under the head salary . But Standard Deduction is not availble now. You can claim eligible savings under chapter VI A .
CAclubindia
