Superannuation section itr a.y. 2018-19

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 August 2018 Salaried person(Age-41) had received Rs. 1,11, 964 (superannuation from LIC) on 01-09-2017 from previous employer where she had done job till 2012. In previous 2015-16, 2016-17 also she had received the amount but we had not made this taxable in previous years ITR.

No TDS is deducted on this despite it is periodical.

1. Please tell it's treatment in A.Y. 2018-19

2. Please tell in which section of income tax it is mentioned that this amount is Tax free if a single payment, but periodical annuity through LIC is taxable.

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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15 August 2018 2. Please see sections

17(1)(ii) - periodical payments.

10(13(ii) - one time payment.

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Sachin Kumar

Sachin Kumar (Querist)
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15 August 2018 Thank you sir. 1. As it is periodic payment should it be taxable under head Salaries with normal rates ...? 2. Secondly why the employer had not shown it in Form 16...? 3. why no TDS is deducted on it as shown in 26AS..?