Treatment of superannuation fund


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Querist : Anonymous

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Querist : Anonymous (Querist)
31 March 2014 An employee has received a lumpsum amount of superannuation fund on his retirement.

Would it be chargeable to Tax ?

Please explain the conditions of such treatment of the received amount

Specifically explain the point :-
To any employee in lieu of or in commutation of any annuity on his retirement at or after a specified age or on his becoming incapacitated prior to such retirement.

31 March 2014 Any sum received to an employee in lieu of or in commutation of annuity on his retirement is exempt from tax.

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 March 2014 In what case superannuation fund is taxable.

31 March 2014 employer's contribution exceeding Rs. 100000 is taxable in hands of employee.


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