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?
CA Sandeep Jhawar
(Expert)
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.
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