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Itr 2-employer details

HEMANT (CHIE MANAGER (F&A)) (28 Points)

25 July 2016

IF YOU ARE RETIRED AND RECEIVING LIC ANNUITY, THEN WHAT NAME OF THE EMPLOYER TO BE MENTIONED IN SALARY DETAILS PAGE?

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8 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (182297 Points)
Replied 25 July 2016

You are not required to fill any detail in the schedule S. In Part A - General, under Employer Catagory: select Not Applicable

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HEMANT (CHIE MANAGER (F&A)) (28 Points)
Replied 26 July 2016

Thank you for the clarification. However, the annuity or the pension figures will continue to be shown under salary head?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (182297 Points)
Replied 26 July 2016

No there is no employer-employee relation for salary. The annuity is shown under "Income from Other Sources' head.

HEMANT (CHIE MANAGER (F&A)) (28 Points)
Replied 29 July 2016

Thank you. However, the TDS deducted by LIC from annuity and the Form 16 issued by LIC shows TDS deduction under Section 192 and the form 16 shows the name of employer as LIC. The income tax act also says that salary includes annuity and pension. Does it mean that annuity income received from LIC is to be shown as part of salary and employer details to be shown as LIC under salary income schedule of ITR2?