Standard Deduction Applicable for Pensioners - Clarification Ministry of Finance Clarification regarding applicability of standard deduction to pension received from the former employer The Central Board of Direct Taxes (CBDT) has clarified that the pension received by a taxpayer from his former employer is taxable under the head "Salaries". The Finance Act, 2018 has … [Read more...] about Clarification regarding applicability of standard deduction to pension received from the former employer