SEO Sai Gr. Hosp.
210829 Points
Joined July 2016
It shall be treated as family pension and chargeable under the head other source of income.
Allowable deduction is 1/3rd of the pension or Rs. 15,000/- whichever is lower.
Taxability subject to threshold limit and slabs of tax applicable to concerned individual.
For details refer: https://www.caclubindia.com/articles/pension-overview-11404.asp