Taxability of epf
This query is : Resolved
VANYA GARG
(Querist)
29 December 2011
My client received pension under Employee Pension Scheme.
Please tell me whether the same is taxable or 1/3 is taxable under the hear Income from House Property?
Please help me its urgent....
Please tell me whether the same is taxable or 1/3 is taxable under the hear Income from House Property?
Please help me its urgent....
CA. RAGHAV GARG
(Expert)
30 December 2011
Vanya, you need to revise your question or to be more elaborative.
Employee Pension have no relation with House Property.
Employee Pension have no relation with House Property.
31 December 2011
STANDARD DEDUCTION FOR FAMILY PENSION U/S.57(iia):
An amount of Rs.15,000 or 33&1/3% of family pension whichever is less is allowed as deduction. If an assessee receives arrears of family pension, then Relief u/s.89(1) can be claimed by him.
Family Pension received by the widow or children or nominated heirs, as the case may be, of a member of the armed forces(including para-military forces) of the union, where the death of such member has occurred in the course of operation is exempt.
An amount of Rs.15,000 or 33&1/3% of family pension whichever is less is allowed as deduction. If an assessee receives arrears of family pension, then Relief u/s.89(1) can be claimed by him.
Family Pension received by the widow or children or nominated heirs, as the case may be, of a member of the armed forces(including para-military forces) of the union, where the death of such member has occurred in the course of operation is exempt.
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VANYA GARG
(Querist)
31 December 2011
It was typed wrong by mistake. I want to type
Income from Other Sources.....
Thankx Ashutosh sir...
It was typed wrong by mistake. I want to type
Income from Other Sources.....
Thankx Ashutosh sir...
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