She has to mention the actual amount of pension received by her in that assessment year
Income tax returns filing doubt
My mother is a Family pensioner of Andhra Pradesh state govt. She is getting family pension. Govt have deposited Rs.3,58,342 in bank account(pension account) during 2018-19. But in form 16 they mentioned Amount Paid as Rs.87,291 and Rs.1007 tax deducted.Now my doubt is how much pension income do i need to mentions in income tax returns 87,291 or 3,58,342? my mother got Rs.133141 interest from bank fixed deposits and Rs.107 interest from Income tax refund. I have the following doubts. 1.how much pension income do i need to mentions in income tax returns 87,291 or 3,58,342? 2.where should I mention(in which fields) these 3 incomes in income tax returns(1.pension income, 2.fixed deposits income 3. interest from Income tax refund)? My mother PAN NO: AOLPD9118H pls clarify my doubts asap
Asked 6 years ago in Taxation
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7 Answers
Dear
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You should mention Rs 3.58 lakhs deposited in pension account
on fixed deposit mention Rs 1.33 lakhs
consult local CA
.1 358342 plus the interest received should be mentioned.
2. You have to mention pension in salary and interest in other sources of income.
You have to run AS26 of your mother account to know the exact amount received by her from different venues and you can file your income tax return accordingly as you have doubt on the amounts income in AS 26 you will find exact amount of payments from different sources of income
Taxable income is .87,291 on which 1007 tax levied/paid. P Income is 3,58,342.
133141 FDI.
107 ITRefund. .
1. Since the arrears of pension had been spread over the years, the income or pension amount showed by the government during that year shall be shown in the ITR.
2. Pension income can be shown as pension or salary income and the interest as well as the refund can be shown as income from other sources.
