Declaring FamilyPension under 'Income from Other source'

[Rakesh Yadav]

Friends,

1) My mother draws a 2 lac per anum Family Pension after my father's death from a bank. For this No 16A available as not falling under Income tax.

2) Also my mother from another separate bank got ₹ 10,000 deducted as TDS for Fixed deposit. For this 16A is available but its a separate bank.

My question is , in the Tax Detail page whiling e-filing Under 'Income from Other sources' two rows I shall add. One for 1) & 2) each.as above. But for Number 1) Bank did not provide 16A as no TDS deducted. Then What I shall give TAN no, Unique TDS Certificate No, amount claimed etc?

-Rakesh
 

[DR.MARIAPPAN GOVINDARAJAN]

Since the pension received is below the threshold limit no tax is recovered by the bank. Another bank deducted TDS ₹ 10,000/- for interest. I assume that interest is ₹ 1,00,000/-. Is it correct? Then the total income is ₹ 3,00,000/-.

Pension = ₹ 2,00,000/- + Interest = ₹ 1,00,000 = ₹ 3,00,000

Less threshold limit = ₹ 2,50,000

Taxable income = ₹ 50,000/-

Tax 10% of ₹ 50,000/- = ₹ 5,000

Net Tax payable = NIL

You can claim refund of tax deducted by the bank.

[MADAN RAHEJA]

As per Section 17 of Income Tax Act, salary includes any annuity or pension. Thus family pension received by your mother has to be shown in the Head Salary and Interest under "Income from other sources". Further if your mother is over the age of 60 years, income upto first Three lakhs shall be leviable to Nil rate.

[Rakesh Yadav]

Thanks Mr Mariappan and Madan, I understand your explanation and agree with you.

But my specific query is 'while filling up Online ITR do I need to add two rows in 'Tax Detail Page' one for Family pension and the other for bank TDS? but for family pension I don't have any TAN #, certificate No etc. So what to do ? Only one row for the TDS to be added ?

And in Income Detail page I shall show total Family Pension + TCS = 3 Lac

in Tax detail Page Only The TDS detail for which Tax deducted and no row for family pension ?

-Rakesh.

[MADAN RAHEJA]

ITR 1 pertaining to AY 2017-18 has different columns in respected of taxes paid viz. Advance tax paid [D11(I)], Self ]assessment tax paid[D11(ii)], TDS claimed [D11(iii)] etc. In these columns there is no requirement for filling any Tan No. etc. Further there are Schedules Viz TDS -1 wherein details of tax deducted from Salary, if any, get self populated from AS 26 and TDS 2 wherein details of tax deducted at source from income other than salary get similarly self populated. You dont have to add any row.

[MADAN RAHEJA]

In case you are unable to file return yourself, it is better to get in touch of an authorised TRP (Income Tax) in your area.

AI Summary

Family pension treated as salary; interest as other income; include only incomes with actual TDS entries in tax details.
Family pension must be reported as salary while bank interest is shown under Income from Other Sources. Pension on which no tax is deducted because it is below threshold is included in total income but will not have TDS/TAN details; only incomes with tax actually deducted require TDS entries in the return. Tax deducted elsewhere may be claimed as credit or refund, and ITR schedules auto-populate TDS details where applicable.