30 July 2014
IF in the F.Y. 2013-14 Employer of Mr.X had contributed towards Post Retirement Benefit Scheme (PRBS) An approved Superannuation Fund of Rs. 5 lacs for the Earlier Years i.e.F.Y.2006-07 to F.Y.2012-13,then
1.Whether whole amount received in taxable in F.Y.2013-14?
2.In the F.Y.2006-07 to F.Y.2009-10 any contribution to superannuation fund is exempt then whether we can get the benefit of it?
3.In each F.Y. it is less than one lacs then also it is taxable in F.Y.2013-14 on Whole amount of Rs.5 LAcs?
Suppose Employer had contributed in F.Y.2013-14 the following Amount: 1.F.Y.2007-08 Rs.70000 2.F.Y.2008-09 Rs.80000 3.F.Y.2009-10 Rs.90000 4.F.Y.2010-11 Rs.85000 5.F.Y.2011-12 Rs.90000 6.F.Y.2012-13 Rs.90000
Total Rs.505000 had been deposited in fund A/c in F.Y.2013-14,then whether tax is paid on 405000(505000-100000) or it is not tax at all in we take per year exemption limit?
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