The legal heir of the deceased who receives family pension is entitled to take deduction from such family pension (where option u/s 115BAC is not exercised) received to the extent of :

CS Executive · Tax Laws and Practice · PYQS · June 2021
The legal heir of the deceased who receives family pension is entitled to take deduction from such family pension (where option u/s 115BAC is not exercised) received to the extent of :
(A) Allowed a standard deduction of 1/3rd of such pension subject to maximum of ₹20,000
(B) Allowed a standard deduction of 1/3rd of such pension or ₹15,000 whichever is less
(C) Allowed a standard deduction of 1/3rd of such pension or ₹12,000 whichever is less
(D) No deduction is allowed

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax Act, 1961

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic