For Your Information
C H Mahadevan
Msg from Pension Fund, HO:
"Our Fund has advanced the pension crediting date from "first working day of following month" to "last working day of the respective month" from October 2019 onwards.
Due to the above pensioner friendly initiative by the Fund, there will be 13 pension credits for FY 2019-20. Hence, the taxable income for this year will be a total of 13 months pension (Pension of March 2019 credited on April 2019 which was not taxed during previous year will be included with the 12 months pension of the current year).
*This is applicable ONLY for the current financial year*. Provision for this is already made by us while calculating Income Tax for this FY.
Hence, the gross income in Form 16 Part B for FY 2019-20 will reflect pension amount of 13 months. Pensioners are advised to take note of the same."
S V Srinivasan,
General Secretary, AICBRF, Chennai.
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