Pension received by living airforce employee retired at the age of 40 years (i.e. before 60 years), whether taxable or Not ? if yes under which head ?
If Taxable, Whether any Exemption Notification or Circular is available ?
Sunil Kumar Jaiswal (Practicing CA) (29 Points)
01 April 2015Pension received by living airforce employee retired at the age of 40 years (i.e. before 60 years), whether taxable or Not ? if yes under which head ?
If Taxable, Whether any Exemption Notification or Circular is available ?
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 02 April 2015
If it is uncommuted pension (periodical payment), it is taxable u/s 17(1)(ii)
sadashiv Rupchand Gaikwad
(Proprietor)
(521 Points)
Replied 03 April 2015
This pension should be added as salary income,and pay tax as per slabs
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
