Every return filing season, pensioners and family pensioners continue to face avoidable confusion regarding the tax treatment of their retirement income.
Despite pension being one of the most common sources of post-retirement earnings, uncertainty still persists around some fundamental questions: Is pension fully taxable? Is family pension taxed in the same manner as regular pension? Can pensioners claim standard deduction? Is TDS applicable on pension income? Are senior citizens required to pay advance tax? Can very senior citizens avoid filing income-Tax returns altogether?
