09 August 2018
My uncle is retired as a central govt employee and now receiving ₹ 20480 (Net Pay) p.m as a pension. Detail of monthly pension is as follows: Basic - 22398 D A - 1568 ................. Gross Earnings. 23966 Less: Amt. Of Commuted Deduction as per Salary slip-- 3486 .................. Net Monthly Pay. 20480 ..................
My query is: How to show Amt of Commuted deduction while filling ITR-1 ?
10 August 2018
From your Gross receipt of Pension earning deduct the amount of commuted pension which is exempt under section 10(10A) and the balance net amount is taxable.
10 August 2018
But sir in Form 16 there is no any exemption or deduction has been shown. Only gross salary income is shown in Form 16 and Income Tax is calculated thereon (I.e., on Total Gross Salary).