How to file return for family pension received by Jatin's mother| Jatin ...

How to file return for family pension received by Jatin's  mother| Jatin Modh



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Sir, My mother gets pension of rs 3 lakhs and interest of deposits approx 50,000. My father is expired last year. so my mother also gets family pension of rs 2.5 lakhs. My questions are :

1) Family pension is taxable or not ?

2) in our case, received family pension exempted or not?



Solution:-

Yes, it is taxable and to be offered under income from other sources



Note, in case of family pension, a standard deduction to the extent of 1/3rd of the family pension or Rs 15,000, whichever of the two is lower is allowable.

The deduction is allowable under Section 57(iia) of the Income-tax Act, 1961 (The Act).





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