Disability pension of armed forces
This query is : Resolved
18 November 2014
Sir,
I am an ex-servicemen currently working in Central Government office and drawing disability pension for 40% disablity. Sir I learnt that disability pension of Armed forces is exempted from income tax vide Ministry of Finance(Dept of Revenue)letter F.No.200/51/99-ITA-1 dated 06 May 2000. Sir if it is exempted how do i show that income and under which section i should deduct it from? Please give me some guidance..
Thank you
Venkatesh
I am an ex-servicemen currently working in Central Government office and drawing disability pension for 40% disablity. Sir I learnt that disability pension of Armed forces is exempted from income tax vide Ministry of Finance(Dept of Revenue)letter F.No.200/51/99-ITA-1 dated 06 May 2000. Sir if it is exempted how do i show that income and under which section i should deduct it from? Please give me some guidance..
Thank you
Venkatesh
Amol S Joglekar
(Expert)
18 November 2014
Show it under EXEMPT income cell of the income tax return.
Rupesh Jain
(Expert)
18 November 2014
under the exempt income cell.........................
19 November 2014
sir is it under D22 CELL? But if its more than Rs.5000/- will i have to file ITR2 ?
Amol S Joglekar
(Expert)
19 November 2014
Why to go in for ITR2, it is not business.
19 November 2014
Sir one of my friend told that is fully exempted under section 10.Is there any requirement to report to Income tax of India and if so how do i report it to tax authorities?
Amol S Joglekar
(Expert)
19 November 2014
It is exempt as per the that LETTER from Ministry of Finance.
19 November 2014
Yes sir.So i need not report that income anywhere? And will there be any problem in future from tax authorities stating that income is not reported anywhere(even it is exempted)?
19 November 2014
It means my disability pension income is not reflecting in my income tax returns anywhere..
Amol S Joglekar
(Expert)
19 November 2014
A separate columner cell is provided for EXEMPT income. You put that in that column/cell.
19 November 2014
sir it is nowhere "EXEMPT" income cell/column in itr 1. Its in D20 where its mentioned (if exempt income more than 5000 fill ITR 2)
Amol S Joglekar
(Expert)
19 November 2014
Yes, you are right. Please use ITR2, as suggested bu you.
20 November 2014
But sir ITR 2 it has to be added under salaries head but where to show the exemption?
Amol S Joglekar
(Expert)
20 November 2014
If you download ITR2 from income tax website, the sheet named EI.......stands for exempt income
Put it in OTHERS.
Put it in OTHERS.
Amol S Joglekar
(Expert)
21 November 2014
Let some one else comment....but tell me did you locate the sheet named as EI ?
26 November 2014
Yes sir i have got it.Earlier i had filed in itr 1 for ay 2014-15 and can i revise it with itr2. I dint send ITRV to Bangalore yet.
Amol S Joglekar
(Expert)
26 November 2014
Yes you can very well revise the same even if ITR V is not sent to CPC.
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