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COMMUTED PENSION TAX
Filing ITR? Don’t ignore the ‘nature of employment’ field; it can affect NPS & retirement tax benefitsThe "Nature of Employment" field in the ITR is more than a routine disclosure. An incorrect selection can affect certain tax benefits, incl...- Tax-free income in India: 8 types of income you don’t need to pay any tax onTax-free income: Unlock tax savings with these eight income sources exempt from income tax in India. From agricultural earnings and provide...
- ITR filing 2026: 9 key checks every taxpayer must make for AY 2026–27India's income tax administration has become increasingly data-driven, with information from TDS/TCS reporting, SFT filings and other sourc...
- 8th Pay Commission latest news: J&K employee bodies seek fitment factor of 2.86–3.68, Rs 51,480 minimum basic payEmployee bodies from Jammu & Kashmir have urged the 8th Pay Commission to adopt a fitment factor between 2.86 and 3.68, which could raise t...
- Leave encashment tax rules for AY 2026-27: How much exemption salaried employees can claimITR Filing 2026-27: Salaried employees can claim tax exemption on leave encashment at retirement. While government employees enjoy full exe...
- Got salary arrears after resigning? Use Form 39 to avoid higher tax in 2026–27Resigning from a job in FY 2025-26 and receiving salary arrears in FY 2026-27 can lead to a higher tax liability. To avoid this, taxpayers ...
- 8th Pay Commission Pension Calculator: Your Rs 25,000 pension could double to Rs 50,000! Check new amount with fitment factorCentral government pensioners are keenly awaiting the 8th Pay Commission's recommendations, with the fitment factor is likely to significan...
- Income tax bill 2025 changes: Commuted pension, house property income, nil TDS, and other changes, you should knowThe revised Income Tax Bill 2025, approved by the Lok Sabha, addresses drafting errors from the previous version, set to take effect on Apr...
- Commuted pension from pension funds to get full tax deduction, new version of Income Tax Bill, 2025 clarifiesThe Income Tax Bill 2025 brings good news for pensioners. It allows tax deductions on the full amount of commuted pension. This applies to ...
- Lok Sabha passes new Income Tax Bill amid din without debateNew Income Tax Bill 2025: The Lok Sabha passed the Income Tax Bill after incorporating recommendations from the Select Committee. This move...
- No more partial treatment to pensioners when it comes to commutation of pension in the New Income Tax Bill, 2025Good news arrives for pensioners. The Lok Sabha Select Committee proposes fair tax treatment in the Direct Tax Bill, 2025. The bill address...
- Provident Fund, gratuity, leave encashment, pension commutation and all income tax benefits for retired employees released in a brochure by income tax deptThe Income Tax Department has come out with a brochure outlining tax benefits for retired employees in both the public and private sectors,...
- UPS differs from OPS in pension calculation, minimum pension amount, lumpsum payment, employee contributionUnified Pension Scheme: The govt announced the Unified Pension Scheme (UPS) for government employees on August 24, 2024. The new pension sc...
- Tax implications for senior citizens after budget 2024, know what changed and what continuesBudget 2024: Senior citizens have different financial needs and tax planning is a significant factor in financial planning for senior citiz...
- Can a pensioner convert their existing savings account into a pension account?When an employee retires for any state or central government organization, they will receive benefit amounts and a monthly pension in the a...
- Exemption to annuity income could be gamechanger for pensionersExperts say if the anomaly in the tax treatment of annuity is fixed, it could encourage more people to opt for pension.
- How to report pension income while filing ITRAs per the recently notified changes, an individual who is a director in a company or who holds unlisted shares, cannot use ITR 1.
- How Budget 2017 can help promote retirement savings: ExpertsHere are suggestions from some experts for Finance Minister Arun Jaitley and his team on how the coming budget can help promote retirement ...
- NPS needs to offer equal tax treatment to all irrespective of nature of employmentThe problem with taxation of withdrawals under the National Pension System is not that it’s confusing, but that it may not be fair.
- Q & A: TaxationThe net Indian tax liability on the total income would be based on the amount of relief which can be claimed under section 90.
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