Annuity paid by an insurance company
This query is : Resolved
16 January 2020
I am planning to take one insurance policy whereby I will pay premium for 10 years and insurance cover is there until 11 years from date of issue. From 12th year insurance cover stops but I will start getting deferred annuity for next 25 years and some lumpsum amount at the end of the policy. I want to know where the annuity is tax free under section 10(10D) or any other section or not? Thanks
Amol S Joglekar
(Expert)
16 January 2020
Annuity is taxable. Yo need to add it
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