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SUPERANNUATION AND RETIREMENT TAX
ITR filing 2026: Foreign income and overseas assets? Avoid these 7 costly disclosure mistakesReturning Indians face new tax filing complexities. Foreign retirement accounts now necessitate the more detailed ITR-2, moving away from t...- Retired employee claims tax exemption on Rs 19 lakh leave encashment; I-T dept issues notice and caps it at Rs 3 lakh; ITAT Chennai grants him full reliefWhen Mr Balasubramanian Venkatachalaperumal from Jagadamal Street retired from ONGC in FY 2019-20, he got Rs 19.05 lakh as leave encashment...
- 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...
- Did NPS subscriber get tax deduction on additional 20% contribution (from 60% to 80%)?NPS subscribers hoping for an 80% tax-free lump sum withdrawal will have to wait. Finance Minister Nirmala Sitharaman's Budget 2026 speech ...
- If I resign today with Rs 24 lakh superannuation and Rs 9 lakh in gratuity, can I save tax by transferring these to NPS?ET Wealth Reader's Query: I have been employed with a company for a long time, and have accumulated approximately Rs 24 lakh in superannuat...
- Will UPS subscriber or spouse have to pay income tax on withdrawals or family pension?The Department of Financial Services clarifies the tax implications of the UPS scheme, including family pensions, partial withdrawals, and ...
- Changes in tax on lumpsum and premature withdrawals under UPS and NPS in the latest version of Income Tax Act, 1961FM Nirmala Sitharaman introduced the Taxation Law (Amendment) Bill, 2025, in Lok Sabha, aiming to align the tax treatment of the Unified Pe...
- Superannuation changes explained: Why 80,000 retired and super-rich Aussies will pay more taxAustralia's superannuation tax system is undergoing significant changes starting July 1, including an increase in the mandatory employer co...
- 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,...
- How to report tax-exempt incomes in ITR-1An individual taxpayer is required to report all his incomes that are taxable as well as tax-exempt incomes in his/her income tax return. H...
- Post-retirement retention of officers demoralises cadre: IRS officers association to PM Modi"Moreover serving officers are experiencing humongous strain in seamless flow of tax policy models initiated by such retired officers no lo...
- Funds transferred from PF to NPS not taxable: PFRDA"The amount so transferred from recognised Provident Fund/Superannuation Fund to NPS is not treated as income of the current year and hence...
- 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.
- 3 taxes no one should have to payImagine paying tax on income you haven’t earned or may never earn. Here are 3 cases where individuals are required to pay tax on such incom...
- How not to let tax hit NPS redemptionApart from providing tax benefits of up to Rs 1.5 lakh along with under instruments under Section 80C, NPS has an exclusive window of Rs 50...
- Budget 2016: 60% of EPF deposits to be taxed on withdrawal after April 1At present, social security schemes run by retirement fund body EPFO are tax free EEE scheme under which deposits, accrual of interest and ...
- Budget 2016: 60% of withdrawal from EPF built via employee contributions after 1st April 2016 made taxablePrima facie, the Budget 2016 has proposed making 60% of employee contribution EPF corpus taxable for contributions after 1.4.2016.
- Pvt PF & superannuation funds' equity returns set to be tax-freeGovt plans to give tax-free status to returns earned by private PFs and superannuation funds from their investments in shares of cos.
- VRS is not a dirty word anymoreThe corporate scene in India today is completely different from what it was a decade or so ago.
- Retirement fund payout for work in India taxable here: AARThe Authority for Advance Rulings (AAR) has recently held that the amount received from a superannuation fund for employment exercised in I...
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