New Delhi: A few days back, President of India, Ram Nath Kovind said that he pays income tax of Rs 2.75 lakh every month.
Objections were raised on social media, with some claiming that the President’s income is tax free.
The President’s salary is Rs 5 lakhs per month, and is paid from the consolidated fund of India.
Under the provisions of President’s Emoluments Pension Act 1951, the salary was revised from Rs 1.5 lakh to Rs 5 lakhs in 2017.
The President is also entitled to benefits like lifetime access to fully furnished residence, telephone facilities, a car, medical treatment, travel facilities, secretarial staff and other expenses up to a certain limit. These are available post-retirement as well.
Once he leaves office, Presidents receive pension amounting to 50 per cent of salary.
Even spouses of deceased Presidents are entitled to 50 per cent pension and other facilities mentioned above.
As per section 14 (Heads of Income) and Section 10 (income not included in the total income), the income is not exempted from income tax. Following current tax slabs, jagranjosh.com has calculated that the President of India has to pay approximately Rs 18.44 lakh per annum in taxes in case he/she does not follow a concessional tax regime.
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