If parents purchased an LIC Jeevan Akshay Annuity in the name of the non-dependent child and the child is receiving it in his account annually, is it taxable? And under what income head does it go in the ITR-3 form?
Can anyone please explain.
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LIC Annuity Payment Taxable?
Replies (1)
Yes, it is taxable
Under Income from other sources
Under Income from other sources
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