https://www.taxtmi.com/manuals?id=896 Deduction for contribution to pension fund is available for qualifying payments or deposits made from taxable income to an approved annuity plan of LIC or another insurer, subject to the prescribed annual limit. If deduction has been allowed, the amount standing to the credit of the pension fund, together with accrued interest or bonus, is taxable when received on surrender of the annuity plan or as pension. Under the earlier provision, the deduction was available only to an individual and was linked to approved annuity plans, with receipts taxable in the year of receipt. en-us Wed, 12 Aug 2015 18:24:00 +0530 Tue, 30 Jun 2026 12:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=896 Deduction for contribution to pension fund is available for qualifying payments or deposits made from taxable income to an approved annuity plan of LIC or another insurer, subject to the prescribed annual limit. If deduction has been allowed, the amount standing to the credit of the pension fund, together with accrued interest or bonus, is taxable when received on surrender of the annuity plan or as pension. Under the earlier provision, the deduction was available only to an individual and was linked to approved annuity plans, with receipts taxable in the year of receipt. Manuals Income Tax Wed, 12 Aug 2015 18:24:00 +0530 https://www.taxtmi.com/manuals?id=896