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Annuity pension from lic.

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(Querist)
18 June 2014 My query is whether the annuities/pensions received from LIC on LIC policies are taxable or exempt under the Income Tax Act, 1961.
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Soumitra Basu

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Soumitra Basu (Expert)
19 June 2014 IT IS TAXABLE UNDER INCOME TAX ACT.

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