pension income exempt
This query is : Resolved
31 January 2009
if any army officer(armed force) receive pensions his total pension income is exempt if exempt in which section .
or return to be filled ITR-1 OR ITR-2
if any army officer(armed force) receive pensions his total pension income is exempt if exempt in which section .
or return to be filled ITR-1 OR ITR-2
31 January 2009
In my opinion your understanding of pension income as exempt is wrong, but pension Income is to be treated as salary income.
01 February 2009
It is not exempt.
Only pension received by family members is exempt
Only pension received by family members is exempt
01 February 2009
If the army officer is a gallantry award holder (Ashok chakra, Kirti Chakra,Shaurya Chakra,etc., altogether 15nos)then the pension received is tax free u/s 10(18)(i) of The Income Tax Act,1961. This is with effect from 1/4/2000.
08 February 2009
ITR-2 is to be filed.
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