22 November 2010
under which head of income family pension is taxed? salary or other source ? and what is the treatment of commuted and arrears pension?
22 November 2010
Family pension is taxable under the head "Inocme from other sources" Commuted Pension, you are eligible for exemption.
Refer the link Sec 10(10A) http://law.incometaxindia.gov.in/DIT/File_opener.aspx?page=ITAC&schT=&csId=7bebb7de-d051-4fbb-ba2f-93d333dbd72a&rdb=sec&yr=75996b99-a798-4098-bca8-e66ee23fe426&sec=10&sch=&title=Taxmann - Direct Tax Laws
CAclubindia
