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Somjyoti Saha

Category : Taxabili..,
Solved
July 10, 2018 10:30 pm
My mother is getting family pension and Others source of her income is SB interest , PO MIS and FD Interest . Should I go for ITR 1 ? please suggest . Also in which chapter I have to show thw family pension income and how to avail exempt from family pension . please suggest . Also if you can upload ...
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Amlan Dutta
All the income sources you list i.e saving bank interest , PO MIS and FD Interest along with family pension shall be clubbed and offered under income from other sources
Just because you ask , family pension is to be offered under income from other...
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  • July 11, 2018
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Prashant Kumar

Category : Taxabili..,
Solved
July 1, 2018 11:10 pm
Hi Amlan,
Since last year my mother is getting Monthly Family pension. You have mentioned in one of your recent videos that it is calculated under Income from other sources. I have 2 question related to that
1. Do we need to request the employer for tax forms to get the exact pension amount. Not sur...
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Amlan Dutta
Yes, under section 57, family pension is treated as income from other sources

1.) Form 16 is a salary TDS certificate , you wont get any such TDS certificate for family pension

2.) You can calculate using net family pension credited to your mother's account ..

While offering family pension for income ...
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  • July 2, 2018
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JATIN MODH

Category : Taxabili..,
Solved
June 30, 2018 8:55 pm
Sir, My mother gets pension of rs 3 lakhs and interest of deposits approx 50,000. My father is expired last year. so my mother also gets family pension of rs 2.5 lakhs. My questions are :
1) Family pension is taxable or not ?
2) in our case, received family pension exempted or not?

regards.
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Amlan Dutta
Yes, it is taxable and to be offered under income from other sources
Note, in case of family pension, a standard deduction to the extent of 1/3rd of the family pension or Rs 15,000, whichever of the two is lower is allowable.

The deduction is allowable under Section 57(iia) of the Income-tax Act, 196...
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Yes, it is taxable and to be offered under income from other sources <br />Note, in case of family pension, a standard deduction to the extent of 1/3rd of the family pension or Rs 15,000, whichever of the two is lower is allowable.<br /><br />The deduction is allowable under Section 57(iia) of the Income-tax Act, 1961 (The Act).<br /><br />Check video link - https://www.youtube.com/watch?v=BdH0NfsaBVY Yes, it is taxable and to be offered under income from other sources <br />Note, in case of family pension, a standard deduction to the extent of 1/3rd of the family pension or Rs 15,000, whichever of the two is lower is allowable.<br /><br />The deduction is allowable under Section 57(iia) of the Income-tax Act, 1961 (The Act).<br /><br />Check video link - https://www.youtube.com/watch?v=BdH0NfsaBVY
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  • June 30, 2018
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JATIN MODH
Thank you for your quick reply.
  • June 30, 2018
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