11 July 2012
Dear All, We have income from pension Central government employee, this includes self(Women Assessee) and husband(Expired on duty). Pension received without TDS, now how we can save tax after considering 15,000 or 1/3 which ever is higher, what other allowable deductions for the assessee...
11 July 2012
Rs 15000 or 1/3 is exempt in case when assesses (legal heir) receive family pension on behalf of her husband/father and its taxable under the head of Income from Other Sources. But i think in your case its not a family pension because its receive by assesses itself. If i am right then :
Any monthly pension recv by assesses is taxable under the head of Income From Salary (without any exception). u can save tax by saving u/s 80c etc...
CAclubindia
