Calculation of Deduction u/ 57
This query is : Resolved
15 October 2010
Mrs. X gets pension Rs. 20000 per month. For A.Y 2010-11
Pension Recd. (Rs. 20000*12 Months) 240000
Less : Deduction u/s 57
Least of the below:-
i)1/3 of the pension 80000
(1/3*240000)
ii)15000 15000 15000
Taxable Pension 225000
Is the above calculation correct as per sec. 57?
Pension Recd. (Rs. 20000*12 Months) 240000
Less : Deduction u/s 57
Least of the below:-
i)1/3 of the pension 80000
(1/3*240000)
ii)15000 15000 15000
Taxable Pension 225000
Is the above calculation correct as per sec. 57?
17 October 2010
You are right mister
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