Is family pension received is taxable?

myITreturn Helpdesk

Updated July 09, 2016 08:41

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Yes, family pension received by the legal heirs of a deceased employee from his employer shall be treated as income chargeable under Income From Other Sources.Although an amount of Rs 15000 or 33 1/3 % of pension received whichever is lower is allowed as deduction.

Family Pension, Tax filing, Income tax return Clarified that the family pension received by legal heirs is chargeable under Income From Other Source.

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