tax
This query is : Resolved
28 November 2010
A client of mine retired from PSU bank in Aug,2009. Pension was not opted/applicable at that time and he received all other retirement benefits.
Now the bank has given the option for pension. For this he has to return all the money he received at the time of retirement PLUS 56% over and above from his pocket. This 56% is asked as "Pension Funding Gap".
Whether the assessee is eligible for deduction from his taxable income for the year to the extent of his contribution and under what section?
Now the bank has given the option for pension. For this he has to return all the money he received at the time of retirement PLUS 56% over and above from his pocket. This 56% is asked as "Pension Funding Gap".
Whether the assessee is eligible for deduction from his taxable income for the year to the extent of his contribution and under what section?
28 November 2010
As per my understanding the nature of contribution is different to contribution to superannuation fund u/s 80C.
No deduction is allowable.
No deduction is allowable.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Unanswered Queries
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Difference between Date of Payment and Date of Deduction?
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- Journal entry of busniess expenses
- Cash balance limit and property purchases limit
- Can we choose not to report losses in ITR3 if they cannot be carried forward?
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
