Dear Sir
I was an employee of BPCL. on retirement i have received epf pension, contributory pension, exgratia etc. what is the income tax applicability on the above. any one please help me
Sowmya.S.Balan (Paid Assistant) (749 Points)
19 July 2014Dear Sir
I was an employee of BPCL. on retirement i have received epf pension, contributory pension, exgratia etc. what is the income tax applicability on the above. any one please help me
CA R SEETHARAMAN
(CA Practice )
(146893 Points)
Replied 19 July 2014
Like salary any pension is taxable. Exgratia is also taxable. Taxable only if it exceeds basic exemption limit.
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