Faimily pension

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Dinesh Gupta (Querist)
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18 July 2013 Have a nice day
In Retire from Educaiotion Service received Pension and his Wife go Death Received faimily pension is Exempt Inocme. of club income is taxable pls suggest me.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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18 July 2013 i) Husband's pension and family pension of the deceased wife is taxable.

ii) Husband's pension has to be offered under the head 'income from salary'

iii) Family pension has to be offered under the head 'income from other sources'.

iv) Against family pension a deduction of 1/3rd or Rs.15,000/- ,whichever is less, can be claimed as deduction.

v) Both the above incomes has to be shown in husband's return form.

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Dinesh Gupta

Dinesh Gupta (Querist)
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19 July 2013 Thank for Suggestion, and I want to known for Deduction in Ast Yr 2011-12 if yes what again sec for this Deduction.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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19 July 2013 Please see section 57(iia) of the Income tax Act,1961.

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