Pension increase linked to Cost Inflation Index, applied every five years; baseline pension allowances are increased. The amendment raises the baseline monetary amounts in sub-section (1) and its proviso of section 8A, increasing the specified pension-related allowances. It inserts sub-section (1A) providing that pension and additional pension shall be increased every five years commencing 1st April, 2023, and that such increases shall be based on the Cost Inflation Index specified in the Explanation to section 48 of the Income-tax Act, 1961.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Pension increase linked to Cost Inflation Index, applied every five years; baseline pension allowances are increased.
The amendment raises the baseline monetary amounts in sub-section (1) and its proviso of section 8A, increasing the specified pension-related allowances. It inserts sub-section (1A) providing that pension and additional pension shall be increased every five years commencing 1st April, 2023, and that such increases shall be based on the Cost Inflation Index specified in the Explanation to section 48 of the Income-tax Act, 1961.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
