Exemption for employer's contribution towards superannnuatio
This query is : Resolved
22 June 2012
Suppose Two Employers contributed the amount to Approved Superannuation fund on behalf of a single employee. Whether such emplpoyee is eligible for deduction of Rs. 2 lacs (i.e. Rs. 1 lac each by the two difference employers). Please justify the answer with relevant section and clause.
22 June 2012
Dear Mr. Shah,
As per section 17(2)(vii) perquisite includes contribution to Approved superannuation fund only the porton which exceeds Rs. 1 lakhs.
Accordingly, Exemption upto 1 lakks will be allowed from both the employer because
As per section 17(2)(vii) perquisite includes contribution to Approved superannuation fund only the porton which exceeds Rs. 1 lakhs.
Accordingly, Exemption upto 1 lakks will be allowed from both the employer because
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