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Family Pension.

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(Querist)
14 July 2010 Hi everyone

Is there any deduction from Family pension.
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Srikant

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Srikant (Expert)
14 July 2010 Family Pension - Taxable under Income from Other sources,No deductions available under that head, except normal deductions under chapter VIA.
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
14 July 2010 Family pension is not totally exempted. It is taxable under "Income from other Sources" head alongwith below deduction .

Deduction under section 57 (iia) is allowed
1/3 of the Family Pension.
Rs. 15,000.00
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CA Gangadhar Mishra

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CA Gangadhar Mishra (Expert)
14 July 2010 agree with Mr Sanat
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