Comment posted on Income tax calculator for 2012-13 and Budget 2012 update by S K Jain.
My father (66 yrs) is a Govt. Pensioner and a Civil Engg Consultant in a Pvt Co..
He gets his (1) Pension + (2) Consultancy Fee + (3) Bank Interest on FD & Saving Bank A/c totaling around 7.5 Lacs.
TDS amounting 55k. Invested >1 lac u/s 80C.
Kindly let me know that : (1) Are the exemption clauses same for Pension & Consultancy as salary ? (2) How much amount of Interest is exempted?
S K Jain
S K Jain also commented
- Thanks for your prompt & useful reply. I actually was reading your other solutions & forgotten about mine. You explained each & every aspect of every query.
Once again Thanks for giving me additional information about ITR Form No. otherwise I would have treated Consultancy fee as same as salary (here Pension) & filed ITR-I.
Once again a very big THANKS.