09 January 2019
I understand that pensioners are eligible to claim std deduction of Rs 40K for Ay 2019-20 if pension is paid by employers as it will be treated as salary. I am a pensioner drawing pension under EPS scheme and also receiving super annuation annuity from LIC under the policy taken by my past employer. Am I eligible to claim standard deduction as pension is not directly given by the employer? If I am eligible, should I report both the income in IT returns under the head SALARY since all along I have been showing it under the head OTHER INCOME?
10 January 2019
Should I have to mention the last employer name, address and TAN in ITR since I assume that these have to be entered too though I have retired. Also during earlier years, both EPS and superannuation annuity was shown under head of other income. Will it not contradict if I start showing it under salaries from fy 2018 19?
10 January 2019
Such pension should have been shown under salary. Now you are correcting it no problem. You are receiving the pension based on contribution made by company so mention the lastest company you served.
CAclubindia
