CA Lovenish Bansal (JOB) (343 Points)
18 July 2009I have a problem for superannuation fund
As per sec 10(13) it is exempt subject to some condition laid down in fourth schedule part B one of the condition specified that it must be withdrawal at specified age to take the benefit of sec 10(13)
a) What is the meaning of specified age?
b) whether TDS is to be deducted if withdrawal before specified age?
Thanks,
Lovenish Bansal
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 18 July 2009
I my opinion the specified age is on attainment of 58 Years and the withdrawal will not attract TDS since it is a 100% contribution from employer on which FBT is paid by the employer
CAclubindia
