Superannuation Fund

Tax queries 1394 views 1 replies

CA Lovenish Bansal

JOB

343 Points Joined January 2009

I have a problem for superannuation fund

As per sec 10(13) it is exempt subject to some condition laid down in fourth schedule part B one of the condition specified that it must be withdrawal at specified age to take the benefit of sec 10(13)

a) What is the meaning of specified age?

b) whether TDS is to be deducted if withdrawal before specified age?

Thanks,

Lovenish Bansal

Replies (1)

sivaram

Asst Mgr-Taxation

6918 Points Joined April 2009

I my opinion the specified age is on attainment of 58 Years and the withdrawal will not attract TDS since it is a 100% contribution from employer on which FBT is paid by the employer