NO INCOME TAX DEDUCTION FROM DISABILITY PENSION

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... NO INCOME TAX DEDUCTION FROM DISABILITY PENSION - News and Press Release Dated:- 20-12-2007 - News - It has been reported in the press that some banks were deducting tax from pension of disabled ex- .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... servicemen in violation of Government instructions. RBI was requested to have the matter investigated and remedial action taken. After examination, RBI discovered that in one specific instance, due .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... to oversight, the pensioner's disability pension was wrongly taken into account while calculating Income Tax. RBI has issued instructions to all agency banks to strictly adhere to the provisions o .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... f para 88.3 of Defence Pension Payment Instructions 2005, regarding exemption of Income Tax of the disability pension of the pensioners of Armed Forces. Banks have been advised to issue suitable instr .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... uctions to all their pension disbursing branches that Income Tax should not be deducted from the disability pension paid to the pensioners of the Armed Forces. - News - Press release - PIB Tax Mana .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... gement India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X