Dear Experts
Is it correct that for FY 24-25 (AY 25-26) deduction under section 57(iia) under new regime for family pension is either 25000 or 1/3 of the total annual pension which ever is less.
Thank you in advance.
Regards
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Family Pension deduction under 57(iia) in new regime
Replies (4)
Yes.
Under the new tax regime, for Financial Year 2025-26, a family pensioner can claim a standard deduction of ₹25,000 from their family pension income. This deduction was increased from the previous limit of ₹15,000, as announced in Budget 2025
Sir that means this is not applicable for FY 24-25 and only for FY 25-26 ?
Yes, that is true. From FY 2025-26 onwards....
1/3 OF Pension received or ( Rs.15000 in case of old regime,Rs.25000 in case of Default/new regime.) Which ever is less is applicable from FY 2024-25.
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