Gallantry Awards: What Are The Tax Benefits ?
Awards instituted by central government or state government or instituted by any other body in public interest or notified for this purpose are tax free under section 10(17) of the Income tax Act. A reader Abhishek Singh, Delhi has asked “I am an army officer who has been awarded Sena Medal for Gallantry. I am in active service, what kind of tax benefits/exemptions do I get. Please tell me the authority, act etc which I can quote to the relevant authorities. “