Lic pension

This discussion explores whether pension received from LIC Jeevan Suraksha policies is taxable for senior citizens. While some participants believe it's exempt under Section 10(23AAB), others argue that this section exempts the fund's income, not the pensioner's receipts. The consensus leans towards uncommuted pension being taxable, while commuted pension might be exempt, though the specific policy terms are crucial for a definitive answer.