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Regarding itr 1 ( sahaj )

206 views 5 replies
Respected all, i am a salaried person i want to fill up my itr for the f.y-2015-16 my question is i took one lic's jeevan akshay policy which is a pension plan & i got rs-21000/- from this policy in f.y-15-16 so where should i show this amount in itr 1 in salary column or income from other sources column. help me. thaks.
Replies (5)

Are you received in form of pension ???
if yes,
I think,
then shall be included as salary

yes sir it is a immediate annuity plan which give me 21,000/- rs per year till my death.

does anyone knows the answer of my question? i am 32 year old salaried person plus i took on lic's immediate annuity policy which gives me rs-21,000/- per year so can i include it in salary column in which we all entered the salary amount

i.e my annual salary is 2 lakh + my yearly  annuity is rs-21,000/- so can i add it like 2,21,000/- in salary column or otherwise.

Yes pension is to be treated as salary income and you correctly mentioned 2,21,000, you can very well add it.

EMPLOYER EMPLOYEE RELATION IS NOT EXIST
PENSION IS TAXABLE UNDER THE HEAD " INCOME FROM OTHER SOURCE"


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