https://www.taxtmi.com/article/detailed?id=1799 Pension contributions function as tax deferment: individual contributions are subject to an overall deduction ceiling when aggregated with other specified investments, while employer contributions are excluded from that overall ceiling but limited by a salary related cap and treated as taxable salary with a corresponding employee deduction up to the cap. Amounts withdrawn or received as annuity that previously benefited from deductions are taxed as income in the year of receipt, though purchases of annuity in the same year negate receipt treatment for that year. en-us Tue, 03 Jul 2012 11:34:47 +0530 Tue, 03 Jul 2012 11:34:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1799 Pension contributions function as tax deferment: individual contributions are subject to an overall deduction ceiling when aggregated with other specified investments, while employer contributions are excluded from that overall ceiling but limited by a salary related cap and treated as taxable salary with a corresponding employee deduction up to the cap. Amounts withdrawn or received as annuity that previously benefited from deductions are taxed as income in the year of receipt, though purchases of annuity in the same year negate receipt treatment for that year. Articles Income Tax Tue, 03 Jul 2012 11:34:47 +0530 https://www.taxtmi.com/article/detailed?id=1799