28 July 2016
Please refer section 10(10D). Pension received is an amount of maturity amount according to the scheme / plan. Pension should not be mistaken with pension under the head "salaries" where employer and employee relation was there.
The exemption depends on the amount of premium bearing sum assured i.e. % of premium over sum assured (10%, or 20% as the case may be). Exemption does not depend on the maturity amount.
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