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LIC Annunity

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(Querist)
15 July 2010 LIC annunity amount recd will be exempt or not
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
15 July 2010 Yes it is exempt
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
15 July 2010 Some LIC plans like Jeevan Dhara, Jeevan Akshay and Jeevan Suraksha offer immediate or deferred pension for life.
The annuity received is thus fully taxable in the hands of the individual or the legal heirs.
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