Pension received by husband after wife death
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 February 2013
My client has received Rs.2,60,000/-in form of pension on behalf of his wife after her death.He is even having business income & bank interest income Rs.4,50,000/-. What will be the tax implications.Is pension taxable in the hands of Wife.Please clarify this issue.
15 February 2013
it is taxable in the hands of your Client i.e husband
as per the provision it is taxable in the hands of recipients under section 56 under the head “income from other sources”. Standard deduction is available under section 57 which is 1/3 of such pension or Rs. 15000, whichever is less
as per the provision it is taxable in the hands of recipients under section 56 under the head “income from other sources”. Standard deduction is available under section 57 which is 1/3 of such pension or Rs. 15000, whichever is less
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