Provisions for family pensions says that it is taxable under income from other sources. However a deduction of 1/3 of pension or 15000 whichever is lower is allowed. I want to know how to treat if received family pension is below 15000. Say if someone receives 12000 p.a. then does this whole pension is exempted or 1/3 of this??
Menu
Taxable family pension
Replies (2)
1/3rd of 12000 is exempt
One third of 12K i.e. 4000/- exempted........ & 8000/- taxable.........
Recent Topics :
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
Related Topics :
CAclubindia
