There is a one family pensioner aged 54 years having income Rs.260000.00.As per income tax rules this income should be shown as income from other sources and standard deduction of 33-1/3% or Rs 15000.00 which ever is less is allowed.My question is whether deduction under section 80C is also allowed to the family Pensioner.Thanking you and awaiting your guidence on above query please.
1 Answers
Family pension would be taxed under income from other sources. All tax deduction sections like 80C, 80D etc would be applicable for deduction.
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