Pension refund from abroad - which ITR should I file?

Dear Sir,

If your total income is less than Rs. 50 lacs you need to file ITR-1. Show pension and salary under the head Salary income and Interest under the head income from other sources.

Thanks

Hi,

If you only have salary and interest income during the year, then you can file ITR 1 where in you may report the TDS also and claim the refund.

Thanks

Damini

Hi,

Hope you are doing well !

1.You should have file ITR 1 if your total income is less than 50 lakh.

2. Pension and Salary income will have to show in Income from Salary head.

3. Interest earned on saving account have to show in Income from other sources.

Then, claim the refund accordingly.

Hi,

You need to file ITR 1 if your total income is less than 50 lakhs.

Regards,

Nikhil.

Hi,

Assuming your income is less than 50lacs, you will have to file ITR 1.

Pension income will have to be shown as income from Salary and interest income will be shown under the head income from other sources.

You can call refund of TDS while filing ITR.

You need to calculate the tax as per Indian income tax law on total income including pension and claim the benefit of tax paid in UK from the total tax liability.

Yes, you can pay tax in India but at the same time you can take the benefit of the tax that has already been paid by you in UK.

Hope that clarifies.

Regards,

Nikhil.

Hi,

Calculate the tax as per Indian law and claim the benefit of tax already paid in UK.

HI

Being a resident, it is taxable in India. However you may avail taxes credits in India for taxes paid in the UK.

Above all that if you need, we may also analyse and explore whether exemption can be claimed with the help of treaty.

Thanks

Damini

You are not required to pay any taxes on amounts repatriated to India. All earlier earnings now transferred are tax free. File relevant Form of ITR and claim refund of excess TDS in case you are not within that slab rate of 30%. You may however need to disclose in the ITR that you have a UK bank account (foreign asset), unless it was closed before 31 Mar 2017, which doesn't seem to be the case in case your received pension in a UK bank a/c in 2018.

Hi,

Since you are an Indian resident, you will have to show uk income in India. However, you will be able to claim foreign tax credit of taxes paid in UK.

Further, if the treaty between both the countries permits, you can also show this income table in UK and non taxable in India.

Hi

Being a resident in India, you need to show the global income in the ITR. Since TDS had been deducted in UK, you can claim the benefit of such taxes in the Indian ITR. You can take credit of such foreign taxes paid.

You need to find ITR 1. Show interest income under income from other sources.

We may help you with return filing.

Be it a NRO account or saving bank account, interest earned shall be taxable.

TDS deducted by bank shall be reflected in 26AS statement and credit shall be available.

For the period your account was converted to saving bank account, interest earned upto 10000 can be claimed as deduction under section 80TTA.

Since tax is already deducted by foreign country ,no tax to be paid in India on this income. You can claim the Foreign tax credit amount.