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Taxability of emplyer's contribution to approved superannuat

This query is : Resolved 
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(Querist)
08 August 2012 As per the provisions of section 17(2)(vii) of the Income Tax Act 1961, the amount of employer’s contribution to an approved superannuation fund is chargeable to tax in the hands of employees, to the extent it exceeds one lakh rupees.

Whether it is to be taken on annualized basis (i.e. per financial year basis) or lump sum basis as in the case of Initial contribution??
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CA Vikas Kumar Sharma

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CA Vikas Kumar Sharma (Expert)
08 August 2012 It is based on per F.Y. basis.
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Mohit Garg

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Mohit Garg (Querist)
08 August 2012 Thnx Vikas ji...
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