banner_ad

Commuted Pension from LIC ULPP

ITR 353 views 1 replies

Dear Sirs,

I've an LIC Market Plus unit linked pension plan that matured in this FY. 1/3rd of the sum that matured was paid out to us and the rest was used for Annuity. Pensions have been paid out as well this year.

This policy was purchase Individually and has nothing to do with employement/employer.

If I understand correctly, this 1/3rd amount is Exempt from tax under 10(10a) vide point (iii) since it was setup by LIC which is covered under 10(23aab)

Is this correct?

If so, where do I should this amount in ITR-1?  I suppose under Exempt Income->Nature of Income->Any other?

 

Thanks

Replies (1)
1. Correct. 2. Correct.... u/s. 10(10A)(iii)


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details