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Pention (taxable or non taxable)

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(Querist)
18 August 2014 Retired army man get pention after retirement
Then this pention is taxable or nontaxable?
If taxable; then how calculate tax on pention?
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TKKKKKK

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TKKKKKK (Expert)
18 August 2014 It is taxable. Consider pension in salary head. Aggregate 12 months pension and if the total is more than basic exemption limit, you have to pay tax. Basic exemption limit for F.Y. 14-15 is Rs.3,00,000 for senior citizen (60 years or more age).
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
18 August 2014 if it is disability pension, then it is exempt. otherwise it is taxable as Ms Khatri suggested.
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