Recently, there’s been a trend of income tax being deducted from pensions of certain individuals. This causes them financial loss. However, as per the Central Government’s Office Memorandum, people who receive gallantry medals won’t have income tax deducted from their pensions. The Ministry of Finance had also released a circular on May 12, 2021, directing authorized banks not to deduct income tax from pensions received by gallantry awardees.
