Menu
Benevolent Fund
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.
Replies (2)
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.
Thanks Amir for the advice
Recent Threads
- Indemnity bond notarization for Income Tax (NRI ou
- GST - RCM - for Commercial Building Rent
- Exemption from Penalty for delayed Board meeting
- TDS ON PROFESSIONAL FEES IN NON AUDIT CASE
- Penalty are applicable on short payment of GST
- Closing Stock111
- INVOCIE GENERATED FROM ONE COMPANY AND EWAY BILL G
- Ineligible itc under section 16(4) & itc restr
- Itc on when mixed sales percent in hospitality
- Apply for GST registration while working in MNC
Related Threads
CAclubindia
