16 October 2011
Hi, I have a client who is receiving Pension of his deceased wife. I am confused regarding it's taxability. Is this is what we call family pension as there is no direct employer employee relatioship ? Can he claim 33.3% of pension amount or Rs. 15000 whichever is lower as exemption or This amount is fully taxable under IFOS ? Kindly help. Thanks Regards CA Kamaldeep Singh.
16 October 2011
Dear Kamaldeep, You are moving in quite the correct direction. The Family pension received by you of your deceased wife is taxable in your hands under IFOS. U can claim the above mentioned deduction
CAclubindia
