Pension received by wife of railway employee
This query is : Resolved
23 March 2021
my aunt is receiving a pension amount of rs 17000 every month since last few years
how should this be treated as in income tax rules pls guide thanks
she is a senior citizen and also getting interest from FDs of banks pls guide as to how
the income tax should be filed
how should this be treated as in income tax rules pls guide thanks
she is a senior citizen and also getting interest from FDs of banks pls guide as to how
the income tax should be filed
23 March 2021
Pension should be treated as salary received.
If the pension income and fd interest income exceed 4 lacs file ITR.
Senior citizen income exempt 3 lacs and standard deduction 50,000 and interest income exempt 50,000.
If the pension income and fd interest income exceed 4 lacs file ITR.
Senior citizen income exempt 3 lacs and standard deduction 50,000 and interest income exempt 50,000.
23 March 2021
sir she is a widow of the deceased employee - sorry
23 March 2021
Pension received by a family member is taxed under income from other sources
23 March 2021
Sir is there any deduction/exemption for the pension received by me as family member? Thanks
23 March 2021
Beneficiaries of family pension will get a deduction of 1/3 of the amount of family pension received, or Rs 15,000, whichever is less, admissible as per section 57(iia) of the Income Tax Act and has to be mentioned in the last row under “Income from Other Sources” section to get the benefit.
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
- CLOSING STOCK QUERY
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- CASH GIFT FROM BLOOD RELATIVE
- TDS offline utility
- Due Date Clarity
- Gst on travel by air for business purposes
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Difff in ais receipts and gst turnover
- Rent claimed on building given on permissive possession basis
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- 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
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
