Income tax related
- 561
- 11
-
- Last Comment
My mom getting family pension form March 2019 onward and pension is taxable. This month i noticed that NO tax is deducting from SBI account. Now what should i do, how to get income tax deducted? And how much fine for delay?
- Sort By
not every quarter. They deduct every month. they should deduct automatically every month.
Now where to inform?
How much is the monthly pension?
Normal pension is taxable as salary. Family pension is taxable as other income. There is no provision in the IT Act for TDS on such other income. Therefore there should not be any TDS. The assessee is required to deposit advance tax based on self assessment, if required.
Advance tax can be paid via this link using any bank’s net banking user ID
https://www.incometaxindia.gov.in/Pages/tax-ser...
In normal pension, from beginning they were deduction from pension every month. I never paid from outside, just e filing needed in every every. I have all proof of deduction from pension every month.
I think u guys are not talking about govt. job pension. Even in railways they deduct monthly from salary. But for business man u need to pay like what u r saying as far i know
Downloaded form-26AS but all entry showing 0 only
In general ppl who get pension will pay advance tax for every quarter… SBI cannot deduct it … Guess 10% fine fr advance tax delays