Income Calculation?

Tax queries 510 views 7 replies

DEAR EXPERTS,

MY ASSESSEE GOVT.STAFF .(FEMALE)  I PREPARED I T CALCULATION :

 I SEEN BANK STATMENT. SHE RECD SALARY AND HUSBAND PENSION 

MY QUESTION : GIVENT THE BELOW TRANSACTION  INCLUDE OR NOT. FOR IT CALCULATION 

SHE RECD.  1. ARREAR PAY COMMSION  2.  P F LOAN AMOUNT  3. ARREAR PENSION AMT. (HUSBAND)

ADVANCE THANKS

Replies (7)

Arrear pay Commission taxabale includein income statement

PF Loan Amout not taxable dont include

Arrear Pension not sure about its provision 

K THANKS SIR

Originally posted by : vinoth TAX PRACTIONER


DEAR EXPERTS,



MY ASSESSEE GOVT.STAFF .(FEMALE)  I PREPARED I T CALCULATION :



 I SEEN BANK STATMENT. SHE RECD SALARY AND HUSBAND PENSION 



MY QUESTION : GIVENT THE BELOW TRANSACTION  INCLUDE OR NOT. FOR IT CALCULATION 



SHE RECD.  1. ARREAR PAY COMMSION  2.  P F LOAN AMOUNT  3. ARREAR PENSION AMT. (HUSBAND)



ADVANCE THANKS

 

AND SHE ALSO  RECD. DA  ARREARS 

Dear I think

Arrear Pension is also include. 


 

PF amount is not part of income.

for arrears use sec 89(1)

 PLEASE MORE REPLY...............

Arrear of pension will be taxable to the legal heir of deceased employee, but legal heir can avail deduction

of arrear of pension u/s. 57(iia) which is Rs.15000 or 1/3rd of such arrear pension whichever is less.


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