Exemption for employer's contribution towards superannnuatio

This query is : Resolved

yogesh vijaykumar shah (Querist)
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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.

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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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