Hi,
I have received 13 Lakhs super annuation fund from our Employer. In that they deducted 5% TDS.
Let me know that what is the actual Income Tax rate for Super annuation?
Do, i need to show this amount in my ITR as taxable income?
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Income Tax for Super Annuation Fund
Replies (1)
Summary: Withdrawing a superannuation fund upon resignation is fully taxable as "Income from Other Sources" at your applicable slab rates. You should report the full amount in your ITR and claim the credit for the 5% TDS that has already been deducted.
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