26 July 2013
I am an Ex Serviceman and drawing pension. Pl intimate whether defence pension is exempted from IT. My basic Pension is Rs.7370.00 without commutation and after commutation it is 3685/-(50%).
I am now a pvt company employee also. My present salary is taxable but should I include my pension (Full/commuted) with my present salary for taxation ?
26 July 2013
Defence service covered under Central Government, any uncommuted pension received by Govt employee is fully taxable and Commuted pension received by employee is fully exempted u/s.10(10A)
Yes now you have to add the private salary and uncommuted pensions received as Income from salary and calculate your tax liability and pay
Incase you are receiving commuted pension more than Rs.5000, it covered exemption exceeds Rs.5000, so you need to file ITR-2 not ITR-1
26 July 2013
Disability pension Rs.29971 is fully exempted from tax & Commuted pension Rs. 4654 & Rs.5115 is exempted from tax. balance uncommted pension Rs.877 is taxable
Since the exempted income crossing Rs.5000/- you have to file the ITR-2.