freedom fighter pension
This query is : Resolved
03 August 2007
do pension received by freedom fighters is exempt from tax? what is the section in the IT Act?
19 August 2007
Pension received by a freedom fighter is exempted in least of the following.
1. 1/3rd of pension received or
2. Rs. 15000/- whichever is less.
Refer Sec 57 of IT Act. in Income from Other Sources.
1. 1/3rd of pension received or
2. Rs. 15000/- whichever is less.
Refer Sec 57 of IT Act. in Income from Other Sources.
23 August 2007
pension income is included in salary income of receipient & not in other sources. & sec 57 is applicable on family pension received by the family members of the employee.
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