Are annuities fromlic schemes taxable

Tax queries 131 views 1 replies
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not applicable
140 Points Joined September 2011

I 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

 

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On 16 June 2019 at 15:52 Report
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SEO Sai Gr. Hosp.
208015 Points Joined July 2016

Yes, taxable.

Most of the pensions are taxable u/h. salary, and are subject to standard deduction.

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On 17 June 2019 at 07:58


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