Income tax guide on pension: How to file pension income in ITR?
March, 27th 2023
Pension income is considered "Salary Income" and is taxed at the taxpayer's appropriate slab rates. Pension income is taxable for senior citizens and super senior citizens depending on whether it is received from a former employer or from the government. If you get a pension from a former employer, it is taxed as "Income from Salary." If you get a government pension, it is taxed under the category "Income from Other Sources." Here's how senior citizens and super senior citizens can declare pension income in ITR, based on an exclusive interview with several industry experts.