no tax on defence pension
Defence pension is taxable or not? Give details of authority , notifications or circular if any .
yes
No, it is not taxable
Yes, military pensions are considered taxable income in the United States. Just be sure what you are receiving is actually a pension payment and not a compensation payment, which is not taxable.
what will be the pension of ex serviceman who retired after completion of 17 years
Yes, old age pension is typically taxable at the federal level in the United States. The amount of tax owed depends on your total income for the year. However, some states do not tax old age pension income.
what will be the basic pension and how much arrears will someone get if the basic pension earlier was Rs.2465/-?
Yes, you pay state and federal taxes on the pension.
Yes the taxable amount of the distributions that you receive from your postal pension plan will be added to all of your other gross income and will be subject to federal income tax at your marginal tax rate. You will receive a 1099-R with the information that you will use to report the gross amount and the taxable amount on your 1040 tax form.
Yes they are and usually the 1099-R box 7 code is 4 DEATH BENEFIT and the gross amount and the taxable amount is included on the pension and annuity income line of the 1040 tax return that you are using.
what will the revised pension those retired from defence service prior to 1.1.2006
Yes you can inherit a pension but the amount will NOT be free of income tax. The taxable amount of the distribution will be taxed to you in the same way that they would have been taxed to the deceased. The taxable amount of the distribution will be added to all of your other gross worldwide income and be subject to income tax at your marginal tax rate.