Amount of pension received from the fund will be taxable in the year of receipt. The physical disability should be certified by a government recognised hospital. Certificate in form number 10-I to be submitted along with the return of income.
Deduction is available irrespective of actual expenditure.
This deduction is available in the year in which repayment starts and only for seven immediately succeeding assessment years. The repayment is made out of income chargeable to tax, loan should be taken from financial institution or approved charitable institution. The assessee or his spouse or HUF of which he is a member should not own a house at the place where he ordinarily resides, works or conducts business. Remuneration should be received outside India, services should be rendered outside India by a professor, teacher or research worker. A certificate in Form 10H should be attached along with the return of income.