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PENSION STANDARD DEDUCTION
Rs 15 lakh, Rs 20 lakh or Rs 25 lakh CTC? Check your exact TDS under new vs old tax regime for Tax Year 2026-27Understanding Tax Deducted at Source (TDS) on your salary is crucial. Employers calculate your annual tax liability based on declared incom...- Income Tax AY 2026-27: Even if your salary income is below Rs 12.75 lakh, you still need to pay tax for these incomesIncome Tax AY 2026-27: Salaried individuals earning up to Rs 12.75 lakh annually may enjoy zero tax liability due to enhanced Section 87A r...
- ITR filing AY 2026-27: 8 costly mistakes taxpayers should avoid this tax return filing seasonThe I-T Department’s growing scrutiny, using AI and data analytics tools, leaves little room for omissions and errors, making accurate tax ...
- New tax regime: 7 ways for salaried employees to reduce their tax liability while filing ITR for FY 2025-26Salaried individuals can still reduce their tax liability under the new tax regime for FY 2025-26. Key deductions include employer contribu...
- NPS withdrawal rules clarified: Postal department says pension body explains conditions to withdraw 100% NPS-Lite corpusNPS-Lite subscribers can now withdraw their entire accumulated pension wealth up to Rs 2 lakh as a lump sum, the Department of Posts announ...
- Waiting for Form 16? Here’s when employers may issue it for AY 2026-27 ITR filingSalaried employees await Form 16 for Assessment Year 2026-2027. Employers must issue this crucial tax document by June 15, 2026. This form ...
- Pension is salary, family pension is not: Key tax rules pensioners must know before filing ITR for AY 2026-27Pension and family pension are taxed differently under the Income-Tax Act, yet many taxpayers continue to confuse the two while filing retu...
- New income tax regime: Don’t miss out on these 3 key deductions that will reduce your taxable income & help save more taxMany taxpayers mistakenly believe the New Tax Regime offers no deductions. However, salaried employees and pensioners can claim a Rs 75,000...
- NPS annuity exit rules relaxed: Policy surrender allowed in cases of critical illness, old policies with surrender clauseThe Pension Fund Regulatory and Development Authority has revised rules for National Pension System annuity surrenders. Subscribers facing ...
- Has Standard Deduction for FY 2026-27 for salaried employees changed in Budget 2026?Union Budget 2026: Finance Minister Nirmala Sitharaman has maintained the standard deduction at Rs 75,000 for salaried individuals and pens...
- Has Standard Deduction of Rs 75,000 from salary, pension income increased in Budget 2025?There were rumours that the government might hike the amount of standard deduction available to give tax relief to the middle class. Howeve...
- Budget 2024: Standard deduction limit hiked from Rs 50,000 in new tax regime; check new limit for current financial yearStandard deduction limit in Budget 2024: The finance minister has announced changes in the Standard deduction limit.
- Standard deduction limit increased? Here's what Budget 2024 saysStandard deduction limit in interim budget 2024: The standard deduction limit was last hiked in interim budget 2019. Since then maximum ded...
- Standard deduction introduced in new tax regime for salaried, pensionersStandard deduction 2023: Standard deduction was introduced in the Union Budget 2018. This deduction was announced in lieu of transport allo...
- Budget 2022: Any change in standard deduction for salaried, pensioners in FY2022-23?There was an expectation of hike in the amount available to claim as standard deduction due to the higher cost borne by employees to work f...
- Can I claim standard deduction from pension received from EPFO?"The standard deduction of up to Rs 50,000 is available for income from salary. "
- Is the LIC annuity from employer superannuation scheme eligible for standard deduction?Dilip Lakhani, Senior Chartered Accountant, answers queries from our readers on income tax and other levies.
- Can a retired person claim the Rs 40,000 standard deduction?
- Pension from ex-employers eligible for Rs 40000 standard deductionCBDT had received representations as to whether a taxpayer, who receives pension from his former employer, shall also be eligible to claim ...
- Standard deduction benefit doubtful for private sector pensionersAs per experts it appears unlikely that, as per existing laws, a person getting these kind of pensions –EPS or annuity—would be able to cla...
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