Calculate monthly annuity income from a lump sum corpus — used for NPS, LIC pension plans, and retirement planning.
| Annual Income | — |
| Total Payout (Fixed Period) | — |
Major annuity providers in India: LIC (Jeevan Akshay, New Jeevan Shanti), SBI Life, HDFC Life, ICICI Prudential. NPS subscribers must use at least 40% of corpus to purchase annuity. Current annuity rates range from 5.5% to 7% annually.
Q: Is annuity income taxable in India?
A: Yes. Annuity payments are taxable as income at your applicable slab rate. Only the NPS lump sum (60% of corpus) is tax-free; annuity income is fully taxable.
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