New pension scheme
This query is : Resolved
19 February 2012
Is exemption allowed to the employer on making employer's contribution to the New pension scheme for the AY 10-11 & 11-12? If yes then under which section ?
19 February 2012
The employer is not allowed exemption. The employer can claim deduction to the extent of amount not exceeding 10% of the salary.
Relevant Section is 36(1)(iva). It is applicable w.e.f. AY 2012-13.
However, for earlier AY's it can be claimed U/s 37(1).
Relevant Section is 36(1)(iva). It is applicable w.e.f. AY 2012-13.
However, for earlier AY's it can be claimed U/s 37(1).
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