Individual invested in LIC pension plan. under which section deduction is allowed??
whether pension received from the same scheme is taxable??
Menu
Pension plan
Replies (4)
Quick Summary
Pension plan is deducted u/s 80CCD
It is taxable
It is taxable
Individuals can contribute to National Pension Scheme (NPS) and claim an additional tax deduction of up to ₹50,000 under Section 80CCD(1B) of the Income Tax Act.
The deduction is exclusive to NPS contributions and LIC plans do not qualify for tax deduction under this section.
The deduction is exclusive to NPS contributions and LIC plans do not qualify for tax deduction under this section.
What is the lic pension plan name means under which policiy??
There are many pension plans of LIC such as Jeevan Akshay, Jeevan Dhara etc
Recent Topics :
- 12A registration expired in FY 22-23 and is not re
- Seeking Clarification on Business Code Selection a
- CG on property sold after construction of a house
- Nursing Home Taxability
- CA opted for Form 10IEA mistakenly - Demand raised
- Query on scenario related to FAST DS 2026
- Audit Executive (Remote, India) - Ace Auditing Off
- GST Transaction On Used Clothing
- ITC availed on 5%-rate passenger transport (AC bus
- Extension of Due Date of AY 2026-27
Related Topics :
ARTICLESHIP
07 September 2026
Article/ Paid Assistant
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
ARTICLESHIP
21 September 2026
CA Article Assistant
KK & Company Chartered Accountant
Pune
CA Inter
View Details
ARTICLESHIP
18 September 2026
Industrial Trainee
Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
View Details
ARTICLESHIP
04 September 2026
Accounts Executive
Hema Yashwanth & Associates
Chennai
B.Com
View Details
ARTICLESHIP
07 September 2026
CA Articles
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
View Details
CCI
Pro
CAclubindia
