Family pension

firneds try to answere me

Explanation of that section specifically mentioned that for the purpose of this clause family pension shall be that pension which is receiveable on regular monthly basis

sec 80 CCD is applicable on non govt. employee also

(all figs in rupees)

Suppose the person opt for commutation and say for eg the commuted value of pension be 100,020 and suppose pension was 1500 Rupees. Suppose he commutes  1000 (out of 1500)

Now exempted pension will be

(if not receving gratuity)

1/3 X 1500 / 1000 X 100,020 = 50,010

(if receving gratuity)

1/2 X 1500/1000 x 100,020 = 75,015

(According to sec 80 CCE Maximum deduction which cab be availed in sec 80C,80CCC or 80CCD individually or in aggregate is 100,000)

nice explation by mr.z keep it up ...i having some more explation but i dont think its needed here commercial vehicle loans