Taxability of emplyer's contribution to approved superannuat
This query is : Resolved
08 August 2012
As per the provisions of section 17(2)(vii) of the Income Tax Act 1961, the amount of employer’s contribution to an approved superannuation fund is chargeable to tax in the hands of employees, to the extent it exceeds one lakh rupees.
Whether it is to be taken on annualized basis (i.e. per financial year basis) or lump sum basis as in the case of Initial contribution??
Whether it is to be taken on annualized basis (i.e. per financial year basis) or lump sum basis as in the case of Initial contribution??
08 August 2012
It is based on per F.Y. basis.
08 August 2012
Thnx Vikas ji...
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