Any payment in commutation of pension received from a pension fund set up by the Life Insurance Corporation of India in terms of section 10(23AAB) of the Income-tax Act, 1961, is:

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Question:Any payment in commutation of pension received from a pension fund set up by the Life Insurance Corporation of India in terms of section 10(23AAB) of the Income-tax Act, 1961, is:

1. Liable for tax

2. Fully exempt from tax

3.Partly liable for tax

4. Taxable @10%

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  1. Any payment in commutation of pension received from a pension fund set up by the Life Insurance Corporation of India in terms of section 10(23AAB) of the Income-tax Act, 1961, is:
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