Abolish Income Tax on Pension
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After serving whole life, the retired person is provided small pension to carry on his/her remaining life with or without spouse. At this time, the children are mostly settled and stay separately with their own families. Medical expenses increase. The only financial support available is in the form of pension. Taxing the pension eats away a part of their financial security. It is pertinent to mention that pension of MPs and MLAs is not taxed. Why the old people are made to suffer financially at the fag end of their life? Honourable Prime Minister Mr Modi and Honourable Finance Minister Mr Jaitley are requested to help retired people by abolishing income tax on pension.
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