In 2001, Titoâs Handmade Vodka won the double gold medal for best vodka at the San Francisco World Spirits Competition. That means it was a unanimous decision. That also means that there are judges who are invited to San Francisco every spring to drink for free and that it must be nice to be a judge of such things.
But interest that accrues on a cash value life insurance policy will be considered taxable income, and you should receive a Form 1099 showing the total interest earned each year, he says. Many insurance companies offer policyholders the option of using their interest to buy additional insurance.
PENSION. 1  Pension is a retirement benefit; this is taxed as salary in the hands of the employee. 2  Tax is deductable under section 192 of income tax act on payment. 3  Family pension received by the dependence of the employee is taxable under the head income from other source.hat is the tax treatment for family pension received by the legal heirs of a deceased employee. It will be taxable under the head âincome from other sourceâ .under section 57(iia) a standard deduction shall be allowed to the legal heir @33.333% of such pension or Rs. 15,000, whichever is less.