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Benevolent Fund

Tax queries 1852 views 2 replies
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Service
34 Points Posted on 28 January 2010
Hi Friends, Are proceeds from benevolent fund fully taxable, partly taxable or exempt from tax? These proceeds include 1/2 contribution by employees and balance by the employer.
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On 28 January 2010 at 17:18 Report
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Learner
4016 Points Posted on 28 January 2010
Dear Amogh, No separate treatment for Benevolent funds. It will be treated as Superannuation Fund & amount in excess of Rs. 1 lakh will be taxable in the year of contribution as perks.
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On 28 January 2010 at 17:37
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Service
34 Points Posted on 29 January 2010
Thanks Amir for the advice
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On 29 January 2010 at 08:30


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