Iam a retired employee from a CPSU and member of PF and contributory PF pension of EPFO. While disbursing the pension the EPFO do not deduct TDS and the payment comes to my bank account monthly. The employer doesn't have any roll in this. There is no employer employee relations with EPFO. My query is
1. Whether the receipt from EPFO can be treated as exempted receipt as any amount received from EPFO is exempted in the hands of receipient.
2. There is no specific provision in IT Act terming the contributory pension scheme of EPFO.
3. If it is taxable the EPFO would have deducted TDS.
4. If it is taxable under which head .
5. If it is under Salary whether STD deduction is applicable.
Yes... EPF pension is taxable under Salary head...
Yes... Standard deduction available for the same.
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