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SAIKAT DAS

Taxability of Family pension( U/s 57)...
if i use pension tab in itr1 for fillig family pension,,Can i get notice from IT department???
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Amlan Dutta
There are two issues here

1.) Taxation - You should not be offering family pension under salary pension head .....
Family pension is to be offered as income from other sources and it's treatment is specified under section 57. Also note , there is deduction benefit available under section 57 for les...
  • December 8, 2018
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Ramarao

Taxability of Family pension( U/s 57)...
My mother is getting Family Pension from two govt Sources
1) From Armed Forces Family Pension
2)From Railways family pension

My questions are
1) Is Armed Forces Family Pension exempted from Tax
2) If not then Rs 15,000 exemption is to be taken for both Family Pension ( Armed Forces & Railways ) totalling...
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Amlan Dutta
1.) Exempt only if the personnel serving in the armed force deceased during the course of duty else it is taxable as per provisions

Basically, Section 10(19) of the Income Tax Act provides that amount of pension received by the family members of armed forces personnel including Para-,military perso...
  • August 28, 2018
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A RAVI

Taxability of Family pension( U/s 57)...
Namaste Sir Ji,

Could you please tell me regarding ITR for family pension. My father expired 4 years ago and My mother is getting a pension of 21200/ month.

Is this an exempt from tax?? At the same time, We have a commercial Vehicle from which we get an 60000/month in mothers account.

We use to give...
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Amlan Dutta
1.) Family pension is not exempt income and it's treatment is specified under section 57, Basically, family pension is offered as income from other sources
You can calculate using net family pension credited to your mother's account ..
While offering family pension for income , don't forget to take ...
  • November 27, 2018
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A RAVI

Taxability of Family pension( U/s 57)...
Namaste Sir Ji,

Could you please tell me regarding ITR for family pension. My father expired 4 years ago and My mother is getting a pension of 21200/ month.

Is this an exempt from tax?? At the same time, We have a commercial Vehicle from which we get an 60000/month in mothers account.

We use to g...
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BIBEK

Taxability of Family pension( U/s 57)...
In ITR2, in the "Other Sources" schedule, where to put the value(amount) of family pension? I mean in which line?
Also, where should I make the entry of 15000 std. deduction (or 1/3rd, whichever is less) for family pension in ITR2?
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Amlan Dutta
I agree with Ayush's view ...you will show family pension under income from other sources considering standard deduction and this standard deduction has to be reported under exempt income reporting section
  • July 14, 2018
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BIBEK
In which line of "other sources" in ITR2 the family pension should be mentioned?
Should I mention the adjusted value after subtracting std. deduction from the family pension?
  • July 14, 2018
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Somjyoti Saha

Taxability of Family pension( U/s 57)...
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...
  • July 10, 2018
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Prashant Kumar

Taxability of Family pension( U/s 57)...
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 ...
  • July 2, 2018
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JATIN MODH

Taxability of Family pension( U/s 57)...
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...
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
  • June 30, 2018
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JATIN MODH
Thank you for your quick reply.
  • June 30, 2018
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