Taxable family pension

Bhalchandra Godse (B.Com) (2 Points)

29 July 2017  

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??