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pension and salary
SIR MY SISTERs' HUSBAND DIED 3 YEARS AGO AND NOW SHE IS WORKING IN HER HUSBAND OFFICE WHERE SHE GETS SALARY 230000 P.A AND ALSO SHE IS GETTING PENSION OF HER HUSBAND (DIED) 60000 P.M NOW MY QUESTION IS TO HOW TO CALCULATE THE INCOME. SHOULD I ADD BOTH HER INCOME & PENSION AND SHOW THE TOTAL INCOME OR SHOULD I SHOW IT SEPERATELY. HER HUSBAND IS A POLICE OFFICER. weather there is examption for the pension income
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" .......SHE GETS SALARY 230000 P.A AND ALSO SHE IS GETTING PENSION OF HER HUSBAND (DIED) 60000 P.M ........."
Whether pension received is 60K PM or PA?
sir she is she is getting salary 230000 pa and 60000 pm that is 720000 pa. sir please help me in this situation. and also suggest me whether i can invest this pension money in some places where it is tax free. thank you sir reply soon.
Salary of Rs.2,30,000 should be declared under head 'salary income'; while pension of Rs. 7,20,000/- less Rs. 15,000/- should be declared under head 'IFOS'
Tax liability can be reduced by availing deduction under chapter VIA.......
For tax-exempt income PPF, &/or tax free bonds are safe investments.
thanks for your reply sir
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