Taxability on post retirement benefit scheme-prbs
This query is : Resolved
30 July 2014
IF in the F.Y. 2013-14 Employer of Mr.X had contributed towards Post Retirement Benefit Scheme (PRBS) An approved Superannuation Fund of Rs. 5 lacs for the Earlier Years i.e.F.Y.2006-07 to F.Y.2012-13,then
1.Whether whole amount received in taxable in F.Y.2013-14?
2.In the F.Y.2006-07 to F.Y.2009-10 any contribution to superannuation fund is exempt then whether we can get the benefit of it?
3.In each F.Y. it is less than one lacs then also it is taxable in F.Y.2013-14 on Whole amount of Rs.5 LAcs?
1.Whether whole amount received in taxable in F.Y.2013-14?
2.In the F.Y.2006-07 to F.Y.2009-10 any contribution to superannuation fund is exempt then whether we can get the benefit of it?
3.In each F.Y. it is less than one lacs then also it is taxable in F.Y.2013-14 on Whole amount of Rs.5 LAcs?
30 July 2014
for employers contribution only 1,00,000 is exempted.
2. upto fy 2009-10 fully exempted.
3. u need to take year wise when u rec it.
2. upto fy 2009-10 fully exempted.
3. u need to take year wise when u rec it.
Message likes :
1 times
30 July 2014
for employers contribution only 1,00,000 is exempted.
2. upto fy 2009-10 fully exempted.
3. u need to take year wise when u rec it.
2. upto fy 2009-10 fully exempted.
3. u need to take year wise when u rec it.
30 July 2014
Thanks for your reply.
Suppose Employer had contributed in F.Y.2013-14 the following Amount:
1.F.Y.2007-08 Rs.70000
2.F.Y.2008-09 Rs.80000
3.F.Y.2009-10 Rs.90000
4.F.Y.2010-11 Rs.85000
5.F.Y.2011-12 Rs.90000
6.F.Y.2012-13 Rs.90000
Total Rs.505000 had been deposited in fund A/c in F.Y.2013-14,then whether tax is paid on 405000(505000-100000) or it is not tax at all in we take per year exemption limit?
Suppose Employer had contributed in F.Y.2013-14 the following Amount:
1.F.Y.2007-08 Rs.70000
2.F.Y.2008-09 Rs.80000
3.F.Y.2009-10 Rs.90000
4.F.Y.2010-11 Rs.85000
5.F.Y.2011-12 Rs.90000
6.F.Y.2012-13 Rs.90000
Total Rs.505000 had been deposited in fund A/c in F.Y.2013-14,then whether tax is paid on 405000(505000-100000) or it is not tax at all in we take per year exemption limit?
30 July 2014
1.2.3 fully exempted
4.5.6 only 1 lkah resp allowed as exemption.
4.5.6 only 1 lkah resp allowed as exemption.
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
Similar Resolved Queries
Unanswered Queries
- Reward for festival
- 18% Rent a cab
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Capital gain on commercial property and investment in residential property
- Movement of goods by packers and movers - type of sale - Reg.
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- TDS Return Statement Status
- Import of Capital Machine
- Appointment of Auditor By Form ADT-1
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
