Pension persons Standard Deductions applicable or not

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This discussion clarifies whether a standard deduction applies to individuals receiving a pension. It confirms that monthly pensions from ex-employers or annuity payments are eligible for this deduction. For senior citizens, Section 80TTB is applicable, allowing for deductions up to £50,000.

ARCHANA

ARCHANA (Querist)
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25 July 2022 Sir/Mam,

Retiring Person Receiving Pension , in this pension standard deduction applicable or not

80TTA Senior Citizen How much Deduction .

Plz clarify my doubts

Thanking you,

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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25 July 2022 If pension received every month from ex-employer or annuity from pension fund, it is eligible for standard deduction.
For senior citizen sec. 80TTB is applicable with deduction limit upto Rs. 50,000/-

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ARCHANA

ARCHANA (Querist)
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25 July 2022 Thank you Sir for your reply

Message likes : 1 times

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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25 July 2022 You are welcome..

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