Superannuation -EPF Final settlement and Gratuity

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  1. selvapillai

    selvapillai New Member

    I retired from PSU last June.
    The Final EPF settlement of about 115 Lakhs and Gratuity of 10 Lakhs are eventhough non taxable, how to show these items in the ITR.
    So far I was using ITR 1 for filing tax.
    My income is only salary, pension and FD interests and the above PF and Gartuity.
     
  2. ZED

    ZED Well-Known Member

    For better disclosure I recommend filing of ITR-2A.

    [PSU employees are not considered as govt. employees.]
     
  3. selvapillai

    selvapillai New Member

    Thanx.
    My query in IITR 2 where to show Gratuity and Final EPF settlement amounts as exempted incomes. Is to be shown in Colum 5 as total aggregate in schedule EI.
     
  4. ZED

    ZED Well-Known Member

    First show gross salary then enter the amount of allowance.
    Do not use schedule EI.

    [Although using schedule EI will not be wrong in itself provided due taxes has been paid. ITR is a matter of presentation and submission of information so that no info is concealed or is inaccurate, following this whatever you do is fine.]
     
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