Retirement superannuation with lic. Annuity received from LIC. Should be included in income a salary

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This query is : Resolved

Quick Summary

This discussion addresses where to declare an annuity received from LIC under the 'salary' income head. Participants debate whether it should be classified as pension or employer contribution. The consensus leans towards including it, with LIC potentially being listed as the employer, even if not a traditional one, especially if it relates to a pension fund.

mamta kumbhat

mamta kumbhat (Querist)

06 July 2024 Under the head salary where to include the annuity receiver from lic?
As the computation is asking for employer details. Where should we include this annuity

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

06 July 2024 Include it under Pension. ...
Employer Others...

mamta kumbhat

mamta kumbhat (Querist)

08 July 2024 Trying to Do the same but it is asking the name of employer

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

08 July 2024 If the amount was paid by your ex employer, then its name.

mamta kumbhat

mamta kumbhat (Querist)

09 July 2024 ok i will check as annuity is coming from lic

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

09 July 2024 Good Luck.

mamta kumbhat

mamta kumbhat (Querist)

12 July 2024 EMPLOYER NAME SHOULD BE LIC BUT LIC IS NOT EMPLOYER BY DEFINTION

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

12 July 2024 Whether the annuity was purchased by you directly from LIC or ex-employer contributed it for your pension fund?
If yes, you can consider it as employer.

Dhirajlal Rambhia

Dhirajlal Rambhia

(Expert)

26 August 2024 You are welcome.

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