freedom fighter pension

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ADITHYA

ADITHYA (Querist)
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03 August 2007 do pension received by freedom fighters is exempt from tax? what is the section in the IT Act?

CA Sandeep Jhawar

CA Sandeep Jhawar (Expert)
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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.

Jitender

Jitender (Expert)
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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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