Taxability of employer's contribution exceeding Rs. 7.50 lacs
This query is : Resolved
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yogesh vijaykumar shah
(Querist)
30 November 2021
As per budget 2020, Employer's contribution to PF / Superannuation exceeding Rs. 7,50,000/- is taxable perquisites in the hands of employee for A Y 2021-22. Whether such threshold limit of Rs 7.50 lacs is applicable to each employer if the e,mployee works under more than one employer? kindly clarify
Dhirajlal Rambhia
(Expert)
30 November 2021
NO. IT SHOULD BE AGGREGATE AMOUNT DEDUCTIBLE UNDER EMPLOYEE'S HAND.
CA R SEETHARAMAN
(Expert)
30 November 2021
Such threshold limit is applicable for all employers consolidated.
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Dhirajlal Rambhia
(Expert)
30 November 2021
THANKS FOR THE UPDATE.
CA R SEETHARAMAN
(Expert)
30 November 2021
You are welcome.......
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