Hello Everyone ..
can some please tell me the tax consequnces of following
Pension (Which was in arrears) received by the wife of Deased Goverment employee.
thanks alot in advance ..
shikhar
(LEARNER )
(1394 Points)
Replied 20 January 2013
FRIEND, it should be taxable in the head of OTHER SOURCES , because there is no employer employee relationship between employer and deceased wife. NO EXEPTION WILL BE ALLOWED TO DECEASED WIFE.
ANY INCOME IS TAXABLE IN SALARY ONLY IF THERE IS EMPLOYER EMPLOYEE RELATIONSHIP.
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)