28 January 2016
Dear Expert, please tell me about tax treatment regarding family pension. can a family pension holder take the HRA exemption? what are the saving scheme for family pension holder, except 80C ( 150000). & home loan?
28 January 2016
Family pension is to be shown under the head “income from other sources” in the Income-tax Return. For Family Pension you are not eligible to Claim HRA Benifits. Question of HRA allowance component will arise both for Pension & Family Pension.
28 January 2016
under 80GG you can claim maximum rs.24000/- deduction on rent paid following condiition to be satisfied you have to file declaration form-10BA The total income for working out these percentages will be computed before making any deduction under section 80GG. In other word eligibility will be least amount of the following :- 1) Rent paid minus 10 percent the adjusted total income. 2) Rs 2,000 per month. 3) 25 percent of the adjusted total income.
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