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Wife of SG employee
wife (widow) of SG employee rcvd monthly 50k pension( form 16 also issued)....whats the tax treatmnt...
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Quick Summary
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.
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