Avail 50% discount on all subjects for Nov batch(access till Nov 20th). Use coupon code Nov14.

×
Home > Experts > Income Tax > Annuity under LIC pension scheme


Please Wait ..

Sign-in to your account


Username:
Password:

Remember Me

Forgot your password?

Sign-up now



Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.


Annuity under LIC pension scheme (Income Tax)

Report Abuse
This query is : Resolved



( Author )
28 March 2009

Is the annuity received under LIC pension scheme taxable?
If it is exempt under which section


Manmohan ACA, CS

( Expert )
28 March 2009

section 80CCC provides that the pension received from such annuity plan under superannuation scheme of LIC or any other insurer will be taxable. The said amount shall be taxable under the head "income from other sources" being the residual head under the I T Act . There is no express deduction available against such income and the deposit for such scheme was already availed of deduction


Previous

Next

You need to be the querist or approved CAclub expert to take part in this query .


Click here to login ( Members Login ) now


Similar Resolved Queries :









submit










Quick Links





back to the top