Income tax : The organization of pensioners calls on the government to give pension exemption

Business

Author D33 B
Story published: August 29, Sunday, 2021, 16:37 P.M

 

Body of Pensioners The Indian Pensioners’ Forum has requested Prime Minister Narendra Modi to exempt pensioners from revenue tax to provide assistance to the elderly in the country.

In a letter to the Prime Minister on August 25 this year, the body argued that if the pensions of MPs and members of the Legislative Assembly are not generally taxable, then why does the federal government impose a revenue tax on pensions? Retired staff.

“Every retiree is given a pension as a retirement fund for his livelihood to serve the country for so many years.” Now, the question arises as to why revenue tax is imposed on pensions (retired employees). It is not earnings for any service or work.

If the pensions of MPs and MLAs are not taxable, then why are our pensions taxable? The letter said the agency had decided at its first all-India conference in Shirdi (Maharashtra) on July 2, 2011, that the pension should be exempt from income tax. No response.

pension

The agency added in the PM’s letter, “The Indian Pensioners Forum is requesting you to please intervene and direct the Ministry of Finance to consider the real demands of the pensioners on this long pending issue. The agency added that it had written to the finance minister on August 23, 2018, December 14, 2018, and February 25, 2021.

Referring to their previous letter to the finance minister, the agency said, “We are saddened that nothing has been done so far.”

The body referred to the Supreme Court order where the Supreme Court said that the pension is vested on an employee of effective authority and the best way to get a pension is an asset under Article 31 of the Constitution.

If it denies an employee, a writ of mandamus may be issued to the state to properly consider the declaration of a pensioner for the cost of the pension under the law, it mentions in the SC ruling.

Story published: August 29, Sunday, 2021, 16:37 P.M

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