AUDITOR VINOTHKUMAR (a) (870 Points)
04 July 2011DEAR EXPERTS,
MY ASSESSEE GOVT.STAFF .(FEMALE) I PREPARED I T CALCULATION :
I SEEN BANK STATMENT. SHE RECD SALARY AND HUSBAND PENSION
MY QUESTION : GIVENT THE BELOW TRANSACTION INCLUDE OR NOT. FOR IT CALCULATION
SHE RECD. 1. ARREAR PAY COMMSION 2. P F LOAN AMOUNT 3. ARREAR PENSION AMT. (HUSBAND)
ADVANCE THANKS
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 04 July 2011
Arrear pay Commission taxabale includein income statement
PF Loan Amout not taxable dont include
Arrear Pension not sure about its provision
AUDITOR VINOTHKUMAR
(a)
(870 Points)
Replied 04 July 2011
| Originally posted by : vinoth TAX PRACTIONER | ||
 |
DEAR EXPERTS, MY ASSESSEE GOVT.STAFF .(FEMALE) I PREPARED I T CALCULATION : I SEEN BANK STATMENT. SHE RECD SALARY AND HUSBAND PENSION MY QUESTION : GIVENT THE BELOW TRANSACTION INCLUDE OR NOT. FOR IT CALCULATION SHE RECD. 1. ARREAR PAY COMMSION 2. P F LOAN AMOUNT 3. ARREAR PENSION AMT. (HUSBAND) ADVANCE THANKS |
 |
AND SHE ALSO RECD. DA ARREARS
MUKESH SHARMA
(B.Com , MBA, CS*)
(108 Points)
Replied 04 July 2011
Dear I think
Arrear Pension is also include.
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 04 July 2011
PF amount is not part of income.
for arrears use sec 89(1)
CA PUNEET GUPTA
(PROFESSIONAL)
(24 Points)
Replied 05 July 2011
Arrear of pension will be taxable to the legal heir of deceased employee, but legal heir can avail deduction
of arrear of pension u/s. 57(iia) which is Rs.15000 or 1/3rd of such arrear pension whichever is less.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
