20 October 2011
Plz tell me about the income tax status of Employees Welfare Fund Scheme and how to register the same and under what status to get tax benefits
20 October 2011
As per section 10(23aaaa) This section is inserted into the Act, with effect from 01-04-1996 The total income of the fund established under a trust and evidenced by a trust deed, if approved by Commissioner or Director (Exemptions), as the case may be shall be exempt from taxes on income The fund shall be established with the objectives, that are notified by central government, of {employee welfare or dependents of employees} who are members of the fund The specified objectives notified are a) payments on superannuation b) payment for medical facilities c) payments at the time of death of member to the families etc The contribution by members shall be periodical for more detail contact 7303851941
Querist :
Anonymous
Querist :
Anonymous
(Querist)
21 October 2011
Hi Naresh, i hav the same query of trust fund
CAclubindia
