Query about Withdrawal from Superannuation Fund
This query is : Resolved
07 June 2011
Hi All !!
I have following query:
From superannuation fund 1/3rd can be withdrawn on retirement. Any idea if this is taxable or tax free. Someone was informing that from this year the withdrawal has been made tax free but he was not sure.
Thanking you in advance.
Hi All !!
I have following query:
From superannuation fund 1/3rd can be withdrawn on retirement. Any idea if this is taxable or tax free. Someone was informing that from this year the withdrawal has been made tax free but he was not sure.
Thanking you in advance.
07 June 2011
In the following circumstances, any payment from an approved superannuation fund is exempt under clause (13) OF SECTION 10:
(a) on the death of a beneficiary; or
(b) to an employee in lieu of or in commutation of an annuity on his retirement at or after a specified age or on his becoming incapacitated prior to such retirement; or
(c) by way of refund of contributions on the death of a beneficiary
IN CASE OF ANY WITHDRAWAL TAX WILL BE DEDUCTED BY THE EMPLOYER
CA MANOJ GUPTA
JODHPUR
09828510543
(a) on the death of a beneficiary; or
(b) to an employee in lieu of or in commutation of an annuity on his retirement at or after a specified age or on his becoming incapacitated prior to such retirement; or
(c) by way of refund of contributions on the death of a beneficiary
IN CASE OF ANY WITHDRAWAL TAX WILL BE DEDUCTED BY THE EMPLOYER
CA MANOJ GUPTA
JODHPUR
09828510543
Message likes :
2 times
07 June 2011
Sir, is there any recent amendment in this area making such withdrawal on retirement tax free?
08 June 2011
any withdrawal is taxable to the extent it exceeds the employee's contribution and interest thereon
there is no such amendment as talked by u
there is no such amendment as talked by u
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- GST Regis.
- Tds on building rent monthly
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
