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of <h1>Understanding Deductions Under Section 57: Income from Other Sources, Family Pension, and Dividend Limitations</h1> Section 57 of the Income Tax Act outlines deductions applicable to income categorized under 'Income from Other Sources.' Deductions include reasonable sums paid for realizing dividends or interest, contributions received for provident or superannuation funds, and family pension income up to specified limits. For family pension, the deduction is the lesser of 15,000 or 33 1/3 % of the income, with an increased limit of 25,000 under certain conditions effective April 2025. Other deductions cover non-capital expenditures related to earning such income. No deductions are allowed for specific dividend incomes except limited interest expense deductions.
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