The amount deductible from family pension is upto —

CS Executive · Tax Laws and Practice · PYQS · December 2014
The amount deductible from family pension is upto —
(A) ₹15,000 or 1/3rd of family pension whichever is less
(B) ₹15,000 or 1/2 of family pension whichever is less
(C) ₹10,000 or 1/3rd of family pension whichever is less
(D) No deduction.

Answer & Explanation:

Correct Answer: Option (A)

Correct answer: (A) ₹15,000 or 1/3rd of family pension whichever is less. This answer applies to the historical law and assessment-year context of this December 2014 paper; later amendments may differ.

Topics: Income Tax Act, 1961

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