31 May 2016 at 15:13
Is the annuity received as an income also part of tax deduction. E. G 1500x12=18000 annuity paid during the year. Must I also include it as a deduction or is it an exempt income?
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31 May 2016 at 15:44
Annuities received are taxable income, also the institution paying the annuity should issue you with a certificate stating the total income and if any tax was deducted. The income is declared under the other income or annuity income.