29 January 2023
History- I paid monthly contribution ( about 12%) from my tax paid salary to my Company regularly for 14 year ( about Rs. 9 Lakhs) After retirement at 60 years , Company fixed my monthly Annuity through SBILIFE and I am receiving annuity monthly . Question - This annuity is taxable or not ? In my opinion , it should not be taxable as I had contributed this Rs. 9 Lakh fund from my taxable salary for past 14 years. Can we connect this case with Section 10 , Tax clause 23aab Kindly clarify me . Regards
CAclubindia
