Income from pension
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 June 2014
a housewife is receiving her late Army officers "Enhanced Family pension"
how will this be taxed?
please note that her husband received "pension with a disability component" when he was alive but after he retired.
what are the different components of this pension that are 1)taxable 2) exempt from tax?
will this be charged under income from salaries/pension or income from other sources?
how will this be taxed?
please note that her husband received "pension with a disability component" when he was alive but after he retired.
what are the different components of this pension that are 1)taxable 2) exempt from tax?
will this be charged under income from salaries/pension or income from other sources?
Nikhil Kaushik
(Expert)
29 June 2014
the pension with disability component is totally tax exempt.
However, post-death of the said person, family pension, if the death was during operational duties, is exempt.
Otherwise such pension is taxable subject to deduction available under section 57(iia) of the Income-tax Act, 1961
However, post-death of the said person, family pension, if the death was during operational duties, is exempt.
Otherwise such pension is taxable subject to deduction available under section 57(iia) of the Income-tax Act, 1961
Rupesh Jain
(Expert)
30 June 2014
pension charge under the income from other sources due to salary received by his wife.
and on family pension deduction 1/3 of rs. 15000 which ever is low is applicable.
and on family pension deduction 1/3 of rs. 15000 which ever is low is applicable.
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