Manage Family Pension Income
A family pension is the money received by family members after the death of a government employee or other eligible individuals. It is paid to support the family i.e. spouse or children, after the primary earner passes away. This income is taxed as Other Incomes in your tax return.
A standard deduction is available for family pension income. It is the lower of 1/3rd of the pension or ₹25,000 (₹15,000 in the old tax regime).Steps to add Family Pension income
- Navigate to File > Incomes > Other Incomes, select Any Other Income
- Enter the Family Pension received
You can review the Taxable Income after applying the standard deduction in the list view
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