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Taxability of ulpp maturity

This query is : Resolved 
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(Querist)
24 August 2015 Dear All,

I recd an amount on maturity of HDFC Unit Linked Pension Plan. But I am confused that it is covered u/s 10(23AAB) or u/s 10(10A).
I can't determine the taxability of the same.
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Ishan Shah

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Ishan Shah (Expert)
24 August 2015 Dear Shashikant,

Good day...!

Commuted Pension :

Commuted pension received from pension fund established by LIC or any other approved insurer under section 10(23AAB ) is exempt from tax for all employees.

"Commuted means to pay in one time rather to pay in instalments."

Uncommuted Pension:

Uncommuted pension i.e pension received in regular instalments is taxable for all individuals u/s 10 (10A).

Hope this sufice.
Thanks.
Regards
Ishan
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