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superannuation effect

This query is : Resolved 
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(Querist)
29 July 2010 if any employee get any amt under heading of superannuation during d period of employment is dr is any exemption limit or not?
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CA Ashish

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CA Ashish (Expert)
29 July 2010 > employers' contribution towards approved supperannuation fund in excess of Rs. 1 Lakhs from AY 10-11 is taxable,
> employees cont is qualified for deduction under section 80C..
> interest on accumulated balance fund is exempt from tax..
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