Benefit of inclusion of annuity in income for all professionals.

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Full Text of the Document

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....ilm artists who follow the cash system of accounting for their professional income and who are paid remuneration either wholly or partly through annuity policy as per agreement /contract, the particular amount of the annuity instalment as is paid in a year is to be included in the total income of the said year provided the annuity policy incorporates all the features mentioned in para 2 of the sai....