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In which head income charged
Dear Sir,
After death of a central govt/state govt empolyee his wife will get half pension as per norms. His pension is taxable and he file his return ITR 1 in salary head. After death his wife is getting this pension now this is taxable in her hand also.
1). Then now can his wife filling this return in her own name after registration of her PAN card?
2). If he will filling her return then in which head she will show his income, salary or other?
Please clarify me the tax treatment.
Replies (5)
1) yes because it is taxable in the hands of wife.
2) it will be taxable under "income from other sources"
Pension received by family members is taxable in their hands, so accordingly his wife shall apply fir PAN and file ITR if total pension amount in a P.Y. exceeds maximum amount not chargeable to tax. It shall be offered under the head "Income from other sources".
Ok thank you.
Then can his wife avail deduction from u/s 80c to 80u which he availed previously?
Or only get deduction u/s 57 for income from other sources head?
Can she commuted this pension and get exemption as per IT act.
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