Menu
Wife of SG employee
wife (widow) of SG employee rcvd monthly 50k pension( form 16 also issued)....whats the tax treatmnt...
Replies (3)
In the case of family pension, one-third of such income or Rs 15,000, whichever is less, is allowed as a deduction. For example, if a family member receives a pension of Rs 50,000, the exemption available is Rs 15,000 or Rs 16,660 (1/3rd of Rs 50,000), whichever is less. Therefore, the taxable family pension will be Rs 50,000 - Rs 15,000 = Rs 35,000.
@ dhiraj sir....she rcvd around 6lacs p.a(monthky 50k)....isnt that called commuted pension and consider it as exempt??
No, it is paid regularly every month, so family pension.
Recent Threads
- Who is responcible to pay GST Liability (If Servi
- Excess Payment on RCM
- AOC4 auto population of previous year data
- Exports against INR PO payable by Domestic Company
- Which websites are best for government exam prepar
- TDS on maturity payment of LIC of india
- ITR2 Gold ETF short and long term
- Query under faceless assessment
- Purchase of business
- Refund of ITC for advance paid to overseas supplie
Related Threads
CAclubindia
