I am a senior citizen with 6 LIC policies from which I earn annuity and quarterly/ annual pensions such as Jeeven Akshay and Pradhan Mantri Vaya Vandana Yojna.
My question is - are the pension and annuities earned from these LIC policies taxable? (under income from other sources?)
Thank you
Yes, taxable.
Most of the pensions are taxable u/h. salary, and are subject to standard deduction.
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