Any income of a pension fund setup by the Life Insurance Corporation of India in terms of section 10(23AAB) of the Income-tax Act, 1961, is:
A. Liable for tax
B. Fully exempt from tax
C. Partly liable for tax
D. Taxable @10%
Answer:B
Any income of a pension fund setup by the Life Insurance Corporation of India in terms of section 10(23AAB) of the Income-tax Act, 1961, is:
A. Liable for tax B. Fully exempt from tax C. Partly liable for tax D. Taxable @10%