Income tax treatment of family pension
This query is : Resolved
14 October 2012
Dear Sirs
My mother is recieving a family pension on Rs 40000/Month after my father's death on duty in Higher education department.
I want to know about total possibilities of tax savings in her case. What all sections under which she can save tax etc.
My mother is recieving a family pension on Rs 40000/Month after my father's death on duty in Higher education department.
I want to know about total possibilities of tax savings in her case. What all sections under which she can save tax etc.
14 October 2012
Please refer to section 57 of the IT act 1961 and a deduction of Rs 15000 is provided. It is taxable under the head Income from other sources.
siva208@yahoo.com
siva208@yahoo.com
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