just got confused

568 views 1 replies

my father died in feb 2009 he retired from army. now my mom gets a pension of 3 lacs per annum. i am confused about her tax. she is 60 yrs old.

1) she comes under tax slab for women as total saving of 1 lac u/s 80c is taken.

2) her income is ITR -1 column 2 i.e. income from other sources.

3) the bank F,D. she has of appox 2 lacs on which interest is deducted as TDS. how to show it on ITR. column it adds in total salary and then tax has to be calculated and amount paid in TDS shall be deducted,

Am i right or wrong.

Replies (1)

Hi,

As regards pension, it seems that it is family pension that your mother is getting. If so, then it is taxed under income from other sources. You may visit the following link for understanding the scheme of taxation in India or understanding the exemptions available, if any from the pension.

/articles/tds-provisions-on-pension-payments-4875.asp

Her income will be calculated as under -

Income from other sources

Pension                                                   3,00,000

Less - deduction u/s 57(iia)                   15,000               2,85,000

Bank FD Interest                                                                  2,00,000

Gross Total Income                                                            4,85,000

Less - deductions u/s 80 C                                               1,00,000

Taxable Income                                                                   3,85,000

Gross Tax                                                                                 28,000

Less - TDS On Interest                                                          20,000

Balance tax payable                                                                 8,000

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
11 July 2026
CA semi qualified

Vakilsearch.com

Chennai

CA Inter

View Details
Company
21 July 2026
Chartered Accountant

Keshri & Associates

Thiruvananthapuram

CA

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

G A R U D & Associates

New Delhi

CA Inter

View Details
Company
23 July 2026
Semi qualified CA

Garg Bros & Associate CA

New Delhi

CA Inter

View Details
Company
Featured 18 July 2026
CA Articleship

apricus india

Mumbai

CA Inter

View Details
Company
22 July 2026
Senior Chartered Accountant

SKSS

Patna

CA

View Details
Company
ARTICLESHIP 11 July 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details