How to pension received from epfo
This query is : Resolved
14 July 2018
X HAS INCOME FROM PENSION. IT IS INFORMED THAT PENSION SHOULD BE SHOWN UNDER THE HEAD SALARY IN ITR.
IN ITR 3 AS THERE IS NO COLUMN FOR PENSION
PLEASE ADVICE IN ITR 3 WHERE TO SHOW PENSION RECEIVED FROM EMPLOYEES PROVIDENT FUND ORGANIZATION WHO IS NOT EMPLOYER OF X
IN ITR 3 AS THERE IS NO COLUMN FOR PENSION
PLEASE ADVICE IN ITR 3 WHERE TO SHOW PENSION RECEIVED FROM EMPLOYEES PROVIDENT FUND ORGANIZATION WHO IS NOT EMPLOYER OF X
14 July 2018
Show the pension under salary head. Choose the category of employer based on last employment. you
14 July 2018
THANKS SIR BUT X IS A RETIRED EMPLOYEE AND GETS PENSION FROM EMPLOYEES PROVIDENT FUND ORGANIZATION AND NOT FROM THE EMPLOYER..IT WAS MENTIONED IN THE QUERY.
14 July 2018
Yes.... Replied as per Your query...
If Assessee retired from Govt then Choose Govt or Pvt then Choose Pvt...
If no need details then select as NA.
14 July 2018
Sir, if you kindly see schedule S in ITR 3, one is required to mention Name of the Employer and Address. State is only to be chosen from the dropdown and there are 5 items mentioned 1.salary, 2.allownces, 3. value of perquisites, 4. profit in lieu of salary and 5. deductions for calculating Income chargeable under the head SALARY. There is no mention of PENSION in those 5 items mentioned above.
You have kindly advised that
"If Assessee retired from Govt then Choose Govt or Pvt then Choose Pvt... If no need details then select as NA".
But it is not clear as to how to apply your kind advice in schedule S ITR 3 where one cannot choose Government or private or write NA
Kindly elaborate your advice please.
You have kindly advised that
"If Assessee retired from Govt then Choose Govt or Pvt then Choose Pvt... If no need details then select as NA".
But it is not clear as to how to apply your kind advice in schedule S ITR 3 where one cannot choose Government or private or write NA
Kindly elaborate your advice please.
14 July 2018
Respected CA R SEETHARAMAN Ji I SHALL BE GRATEFUL IF YOU kindly reply my query.
Respected Raja P M Ji kindly go through ITR 3
Respected Raja P M Ji kindly go through ITR 3
14 July 2018
I agree with your observations, enter pesion under salary head. In respect of employer details enter employer details on the date of retirement.
We have to go as per the form designed.
Many people raised same observations this is the reply from Income tax department.
We have to go as per the form designed.
Many people raised same observations this is the reply from Income tax department.
Message likes :
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14 July 2018
Thanks very much Sir.
It means details of past employer be mentioned and afainst the Column Salary at item no. 1 Pension amount be shown. HAVE I UNDERSTOOD RIGHTLY, SIR.?
SIR, where can reply of Income tax department be seen?
It means details of past employer be mentioned and afainst the Column Salary at item no. 1 Pension amount be shown. HAVE I UNDERSTOOD RIGHTLY, SIR.?
SIR, where can reply of Income tax department be seen?
14 July 2018
Yes you understood rightly. I will get you the link.
14 July 2018
See the link from CAclub.
https://www.caclubindia.com/forum/income-tax-on-epf-pension-372716.asp
https://www.caclubindia.com/forum/income-tax-on-epf-pension-372716.asp
14 July 2018
. Thanks Sir,
You had said that many people raised same observations this is the reply from Income tax department. But Sir, this appears to be opinion of an Expert. I shall try to do an experiment and fill up EPFO in the column Name of the Employer and address of EPFO and see whether the same are accepted in the Form
Thanks once again.
You had said that many people raised same observations this is the reply from Income tax department. But Sir, this appears to be opinion of an Expert. I shall try to do an experiment and fill up EPFO in the column Name of the Employer and address of EPFO and see whether the same are accepted in the Form
Thanks once again.
14 July 2018
SIR, INTERESTINGLY I HAVE DONE SO AS INFORMED ABOVE AND FORM ITR 3 HAS ACCEPTED THE SAME AND ON VALIDATION "SHEET IS OK" MESSAGE COMES
14 July 2018
EPFO is not your employer they are only fund managers. The ITR need only some name to be entered it will check correctness.
15 July 2018
BUT SIR LEGALLY SPEAKING AS ON DATE NOBODY IS EMPLOYER OF X AND IN HIS RETURN ON THE FIRST PAGE OF ITR 3 UNDER THE HEADING EMPLOYER CATEGORY FOUR OPTIONS ARE PSU GOV OTH AND NA AND PENSIONER X HAS TO CHOOSE NA AS HE IS NOT EMPLOYED NOW. THEN WHY SHOULD HE WRITE NAME OF PAST EMPLOYER WHILE MENTIONING HIS PENSION AMOUNT AGAINST SALARY COLUMN.
15 July 2018
Pension is paid on account of past employment and past employer contributed for the pension hence no problem in giving past employer name.
16 July 2018
thanks sir INCOME TAX SHOULD CREATE A COLUMN FOR PENSION WHICH WOULD SAVE AVOIDABLE DISCUSSION.
16 July 2018
Yes I agree with you.
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