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Commuted Pension from LIC ULPP

ITR 366 views 1 replies

Dear Sirs,

I've an LIC Market Plus unit linked pension plan that matured in this FY. 1/3rd of the sum that matured was paid out to us and the rest was used for Annuity. Pensions have been paid out as well this year.

This policy was purchase Individually and has nothing to do with employement/employer.

If I understand correctly, this 1/3rd amount is Exempt from tax under 10(10a) vide point (iii) since it was setup by LIC which is covered under 10(23aab)

Is this correct?

If so, where do I should this amount in ITR-1?  I suppose under Exempt Income->Nature of Income->Any other?

 

Thanks

Replies (1)
1. Correct. 2. Correct.... u/s. 10(10A)(iii)


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