pensions received by family

THE PROVISIONS RELATING TO PENSION UNDER THE INCOME TAX ACT ARE UNDER

and.. to answer your question regarding the applicability of deduction of rs 15k, it is  per annum 

Pension

7.

-

Pension received from United Nation Organization by the employee of his family members

Fully Exempt

8.

10(10A)(i)

Commuted Pension received by an employee of Central Government, State Government, Local Authority Employees and Statutory Corporation

Fully Exempt

9.

10(10A)(ii)

Commuted Pension received by other employees who also receive gratuity

1/3 of full value of commuted pension will be exempt from tax

10.

10(10A)(iii)

Commuted Pension received by other employees who do not receive any gratuity

1/2 of full value of commuted pension will be exempt from tax

11.

10(19)

Family Pension received by the family members of Armed Forces

Fully Exempt

12.

57(iia)

Family pension received by family members in any other case

33.33% of Family Pension subject to maximum of Rs. 15,000 shall be exempt from tax

National Pension System (NPS)

15.

10(12A)

National Pension System

Any payment from the National Pension System Trust to an employee on closure of his account or on his opting out of the pension scheme referred to in section 80CCD, to the extent it does not exceed 40% of the total amount payable to him at the time of such closure or his opting out of the scheme.

regards

Arvind Venkat

CA-IPCC

Thanks for the query Piyush,
The above deduction is from pension received in whole of the financial year and not per month.
If there is no statement otherwise assume always that act is saying provisions for whole of the financial year and not a month.
Arvind I am not in favour of your view, please refer to any commendable data to reinforce your view as it is wrong. Please revert with your detailed view and references in my msg box.
Piyush the deduction is for the year as a whole.

Hope this answers your query,
In case of any further query please revert.

Regards,
Abhimanyu

thanks fr d clarofication abhimanyu..m i referred... And.. Yes it is p.a 😁

thanks abhimanyu

thanks arvind