Sanjit (not applicable) (119 Points)
16 June 2019I am a senior citizen with 6 LIC policies from which I earn annuity and quarterly/ annual pensions such as Jeeven Akshay and Pradhan Mantri Vaya Vandana Yojna.
My question is - are the pension and annuities earned from these LIC policies taxable? (under income from other sources?)
Thank you
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(179985 Points)
Replied 17 June 2019
Yes, taxable.
Most of the pensions are taxable u/h. salary, and are subject to standard deduction.
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