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Query regarding family pension from rbi
One of my client has received family pension from Reserve Bank of India. Her husband was working in RBI. Whether family pension will be taxable in her hand
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It will be taxable under the head ‘income from other source’ .under section 57(iia) a standard deduction shall be allowed to the legal heir @ 33.333% of such pension or Rs. 15,000, whichever is less.
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