Superannuation paid in payslip & also recoverd as superannua

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Girishchandra K Shah (Querist)
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03 November 2009 Employee is paid Rs.7500 p.m. as superannuation in salary alongwith basic da etc.Also while calculating net salry ayable the superannuation amount included in Gross Salary is recovered & paid as a contribution to Superannuation fund.

My query is that while working out TDS liability of employee the sum of Rs.7500 p.m. included in gross salary is to be included or excluded

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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03 November 2009 TDS will be on taxable salary only. So u need not consider the contribution to approved superannuation fund.

Girishchandra K Shah

Girishchandra K Shah (Querist)
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03 November 2009 Rs.7500 included as superannuation in Gross salary is not a taxable salary.Kindly inform as to whether it is required to be shown as gross income & then to be deducted for arriving at taxable salary.Also inform the section of IT Act vide which Rs.7500 included as superannuation in gross salary is not a taxable salary.

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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03 November 2009 See this link for no tax on employer's annual contribution

http://www.incometaxindia.gov.in/publications/7_Tax_Benefits_for_Pensioners/Chapter4.asp.

No need to show this( by gross up then deduct) and can't be shown in annexture ii of TDS return.

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