Please Help: Income tax
Posted Date : 13-Feb-2013 , 03:55:33 pm | Posted By: Pankaj Agrg
Category :
Income Tax | Answers :
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have a query regarding exemption of Disability Pension received from Indian Armed forces.
I want to know under which section this exemption will be allowed??
As per instruction no 2/2001 F No 200/51/99 ITA.I is exempt |
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Answers:
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 Answer by: Mrattunjay |
| Section 10 (18) of the Income Tax Act is reproduced below :
Section 10
INCOMES NOT INCLUDED IN TOTAL INCOME.
In computing the total income of a previous year of any person, any income falling within any of the following clauses shall not be included :
10 (18) : Any income by way of - (i) Pension received by an individual who has been in the service of the Central or State Government and has been awarded "Param Vir Chakra" or "Maha Vir Chakra" or "Vir Chakra" or such other gallantry award as the Central Government may, by notification in the Official Gazette, specify in this behalf;
(ii) Family pension received by any member of the family of an individual referred to in sub-clause (i)
I would request all readers to ensure dissemination to affected individuals and their families. If tax has already been paid or deducted then a refund should be applied for.
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