freedom fighter pension
This query is : Resolved
03 August 2007
do pension received by freedom fighters is exempt from tax? what is the section in the IT Act?
19 August 2007
Pension received by a freedom fighter is exempted in least of the following.
1. 1/3rd of pension received or
2. Rs. 15000/- whichever is less.
Refer Sec 57 of IT Act. in Income from Other Sources.
1. 1/3rd of pension received or
2. Rs. 15000/- whichever is less.
Refer Sec 57 of IT Act. in Income from Other Sources.
23 August 2007
pension income is included in salary income of receipient & not in other sources. & sec 57 is applicable on family pension received by the family members of the employee.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Loss of interest in PF transfer from EPFO to Trust
- TDS offline utility
- Due Date Clarity
- IT returns for fresh job holders
- Banking Related Issue
- Residential status of non resident
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
