Family Pension.
This query is : Resolved
CA. Shikha
(Querist)
14 July 2010
Hi everyone
Is there any deduction from Family pension.
Is there any deduction from Family pension.
14 July 2010
Family Pension - Taxable under Income from Other sources,No deductions available under that head, except normal deductions under chapter VIA.
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
Deduction under section 57 (iia) is allowed
1/3 of the Family Pension.
Rs. 15,000.00
CA Gangadhar Mishra
(Expert)
14 July 2010
agree with Mr Sanat
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