Taxable or not?

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Mansi Tanna (Querist)
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28 July 2016 Sum received on Maturity of pension fund from Bajaj Alliance is taxable or not?

TDS u/s 194DA has been deducted from the same..

Please give advice.

CA CMA CS Ram Pavan Kumar Melam

CA CMA CS Ram Pavan Kumar Melam (Expert)
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28 July 2016 Please refer section 10(10D). Pension received is an amount of maturity amount according to the scheme / plan. Pension should not be mistaken with pension under the head "salaries" where employer and employee relation was there.

The exemption depends on the amount of premium bearing sum assured i.e. % of premium over sum assured (10%, or 20% as the case may be). Exemption does not depend on the maturity amount.