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TAX ON PENSION OF DECEASED SPOUSE.
Pension received from deceased spouse is shown as other income while filing itr but income tax department sent notice that it's should be shown in income from salary as per 26As whether to file revised return or not and standard deduction of 40000 is available or not. Thanks in advance.
Replies (5)
Family pension is assessed u/h IFOS
While pension received by employee and any of its arrears are assessed u/h 'salary'
Standard deduction of Rs.40000/- is deductible from AY 2019-20.
I have filed under IFOS but it Dept showing it as income from salary. It's monthly pension of 20000. what to do sir to file revised return as salary income. For past 3 years it was show as IFOS and there was no issue.
Verify....... It should be pension only and not family pension of decease spouse.
As per form 26AS, if TDS deducted is under sec 192........... revise ITR as salary income, as suggested.
If it is family pension, get it rectified at the deductor's end, for any future clarity.
Thanks sir
Most Welcome......
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