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pension to wife
if a govt servant dies on service wife get pension then is it taxable if yes then in which head??
Replies (2)
Yes, it is taxable under the head income from other sources subject to some exemption.
If this pension is lump sum payment it is not taxable.
If it's Monthly pension then it is exempt to a certain extent i.e. Rs 15,000 or 1/3rd of the pension received -whichever is less is exempt from tax.
If this pension is lump sum payment it is not taxable.
If it's Monthly pension then it is exempt to a certain extent i.e. Rs 15,000 or 1/3rd of the pension received -whichever is less is exempt from tax.
monthly yes in case lump sum not
however Mel applicable still
however Mel applicable still
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