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Deduction from family pension

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(Querist)
05 September 2013 plz inform the amount of deduction from family pension
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CA Dhaval Patel

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CA Dhaval Patel (Expert)
05 September 2013 It is taxable in the hands of recipients under section 56 under the head “income from other sources”. Standard deduction is available under section 57 which is 1/3 of such pension or Rs. 15000, whichever is lower.
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Hari Pal Gupta

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Hari Pal Gupta (Querist)
07 September 2013 CA DHAVAL PATEL
THANKS 4 REPLYING MY QUERY
HARI PAL GUPTA
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