Increase in Standard Deduction and deduction from family pension for taxpayers in tax regime

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Full Text of the Document

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....lary, whichever is less, shall be made before computing the income under the head "Salaries". 2. Further, the existing provision of clause (iia) of section 57 of the Act provides that in the case of income in the nature of family pension, a deduction of a sum equal to thirty-three and one-third per cent of such income or fifteen thousand rupees, whichever is less, shall be made before computing t....