At the time of retirement of employees the employer is paying one time contribution from Superannuation fund to HDFC Life/ LIC/ SBI life etc. The Life Insurance co pays Annuity to the employee till his life. Whether this Annuity can be included under the head Salary or income from other sources?
Similarly the pension received from EPFO after Superannuation can be included under Salary?
Both are to be considered under uncommuted pension when received periodically. Uncommuted pension or any periodical payment of pension is fully taxable as salary.
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