« Top Headlines » Open DEMAT Account in 24 hrs  ITAT Cuts ?4.85 Lakh Penalty After ?14.02 Lakh Interest Income Was Missed in ITR  ITR filed under old regime, tax calculated under new regime; Delhi ITAT gives taxpayer relief  ITAT Delhi Quashes Tax Notice on AMU PG Student’s ?18.34 Lakh Stipend, Declares It Tax-Free Under Section 10(16)  Advance tax deadline September 15: What happens if you missed the previous instalment payment?  How much gold jewellery can you keep at home? Nagpur ITAT explains rules on ownership, gifts, taxability  ?5.31 lakh TDS refund allowed by ITAT Delhi: Why absence of an original ITR did not block the taxpayer  Missed the ITR Filing Deadline? How to Claim Your Income Tax Refund and Correct Mistakes Before December 31, 2026  GST Return Preparation & ITC Analysis with TallyPrime (Hinglish Session)  GST Return Preparation & ITC Analysis with TallyPrime (Hinglish Session)  GST Return Preparation & ITC Analysis with TallyPrime (Hinglish Session)  Income-Tax Department Moves to Bring Greater Certainty to International Tax Cases «  Tax reforms gain momentum in 2007... No service tax on health, education... » No tax deduction on disability pension to Armed Forces: Govt December, 22nd 2007 The government on Thursday said that there will be no deduction of income tax on payment of disability pension to the beneficiaries from the Armed Forces. "Banks have been advised to issue suitable instructions 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," a Finance Ministry statement issued here said. Referring to some media reports that some banks were deducting tax from pension of disabled ex-servicemen in violation of government instructions, the finance ministry approached the Reserve Bank to investigate the matter and take remedial measures. After investigation, RBI discovered that in one specific instance, due to oversight, the disability pension was wrongly taken into account while calculating income tax, the statement said. Consequently, the apex bank issued instructions to all agency banks to strictly adhere to the provisions of the Defence Pension Payment Instructions, 2005, and not to deduct any income tax on disability pension to the ex-servicemen, it added.