Which is exempted from taxation?Sec. 32B of the Tax CodeGroup of answer choicesRetirement benefitsAnnuities

Under Section 32B of the Tax Code, retirement benefits are exempted from taxation. This means that any money received from retirement plans is not considered taxable income. Annuities, on the other hand, are not specifically mentioned in this section of the Tax Code, so they are not exempted from taxation under this section. However, the tax treatment of annuities can depend on various factors, including the type of annuity and the manner in which payments are made. Therefore, it's always a good idea to consult with a tax professional or financial advisor to understand the tax implications of annuities.