senior citizen received pension from LIC amd EPF is it Taxable?
yes then in salary head or IOS???
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Income Tax tratmemt
Replies (5)
Taxable, u/h. Salary.
even after retirement??
Yes, because of old relationships.
1. EPF pension will be taxable under the head salary.
2. If the pension from LIC is in lieu of employment then it will also be taxable under the head Salary.
3. If the pension from LIC is from any own contribution not in connection with the employment then it will be taxable under the head Income from other sources.
Please correct me if the above solution has an alternative view.
LIC pension will be shown under IFOS
&
EPF pension under Income From Salary...
&
EPF pension under Income From Salary...
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