https://www.taxtmi.com/caselaws?id=7511 An employee's contributions to an employer pension scheme can qualify for exemption under section 15(1) of the Indian Income-tax Act, 1922, where the payment is made in respect of a contract for a deferred annuity on his own life. The pension arrangement here provided for annual payments after retirement, which satisfied the character of an annuity, and the deferral until retirement made it a deferred annuity. A separate employer-funded death benefit did not defeat the exemption because that liability was not met by the employee's contribution. The phrase "in respect of" was treated as wide enough to cover the contribution to the deferred annuity component. en-us Mon, 09 Sep 1968 00:00:00 +0530 Sat, 21 Feb 2009 19:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7511 An employee's contributions to an employer pension scheme can qualify for exemption under section 15(1) of the Indian Income-tax Act, 1922, where the payment is made in respect of a contract for a deferred annuity on his own life. The pension arrangement here provided for annual payments after retirement, which satisfied the character of an annuity, and the deferral until retirement made it a deferred annuity. A separate employer-funded death benefit did not defeat the exemption because that liability was not met by the employee's contribution. The phrase "in respect of" was treated as wide enough to cover the contribution to the deferred annuity component. Case-Laws Income Tax Mon, 09 Sep 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7511