31 March 2014
An employee has received a lumpsum amount of superannuation fund on his retirement.
Would it be chargeable to Tax ?
Please explain the conditions of such treatment of the received amount
Specifically explain the point :- To any employee in lieu of or in commutation of any annuity on his retirement at or after a specified age or on his becoming incapacitated prior to such retirement.
CAclubindia
