IT Calc for Retired Employees

amitleoster 1
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Hi Pankaj,

I retired in Sep 2011 and was wondering if i can use the same IT Calc to calculate my tax liability for this year. I couldnt find a place to enter my pension for the rest of the year. Also, i had a query on how to account my leaves which were encashed.

Request your reply.

Regards

Amit

pension-amount retired-person income-tax-calculator income-tax
1 Answers

Same income tax calculator can be used for income tax computation on pension income too. You can use basic salary cells to put pension amount.

Regarding leave encashment, it would be non taxable in case you were an Govt employee. Read more about taxabliity of leave encashment

Pankaj Batra5212
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