banner_ad

Annuity payment from lic taxable or not? plz help

This query is : Resolved 
Profile Image

Profile Image

(Querist)
19 February 2017
whether annuity payment received from LIC by the spouse after the death of her husband is taxable or is it an exempt income plz explain by referring income tax provisions and if it is taxable then whether i can claim any deduction for such income (like in case of family pension where we claim 1/3 of income as expenses)

IN Short i want to ask whether this annuity comes with in the definition of family pension or not
Profile Image

Soumitra Basu

Profile Image

Soumitra Basu (Expert)
20 February 2017 It is taxable under the head Income from Other Sources
Profile Image

Rajat Jain

Profile Image

Rajat Jain (Querist)
21 February 2017 if it is taxable then whether i can claim any deduction for such income (like in case of family pension where we claim 1/3 of income as expenses) IN Short i want to ask whether this annuity comes with in the definition of family pension or not
Profile Image

Soumitra Basu

Profile Image

Soumitra Basu (Expert)
21 February 2017 It will not be treated as family pension
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details