Taxability on post retirement benefit scheme-prbs

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Anjali (Querist)
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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?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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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.

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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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.

Anjali

Anjali (Querist)
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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?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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30 July 2014 1.2.3 fully exempted

4.5.6 only 1 lkah resp allowed as exemption.

Anjali

Anjali (Querist)
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30 July 2014 Thanks for your reply

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