could anyone tells me the treatment of retirement benefits(gratuity,PF,Pensin etc.) given to employees of open universities(not private universities) but also not fully govt. owned ???thnks
AMIT AGARWAL (learner) (114 Points)
27 March 2010could anyone tells me the treatment of retirement benefits(gratuity,PF,Pensin etc.) given to employees of open universities(not private universities) but also not fully govt. owned ???thnks
shushantsinghal
(BCOM(HONS),C.A)
(283 Points)
Replied 27 March 2010
hello....
in my opinion retreiment benefit given to open universities employee shall be treated as non govt emloyee......and shall treatement shall be taxable in the head salary.....
CA AYUSH AGRAWAL
(Kolkata-Pune-Mumbai)
(26986 Points)
Replied 27 March 2010
I Think they are treated as Goverment Employees.
ALPESH KUMAR
(SUPRITENDENT)
(140 Points)
Replied 27 March 2010
Gratuity received by an employee on retirement is exempt to the extent of the least of
(a) Rs. 350000/-(b) half month's salary for each completed year of service
(c) gratuity actually received.
-Pension is taxable as salary
-PF received is expempt from the tax
AMIT AGARWAL
(learner)
(114 Points)
Replied 27 March 2010
is there any case law relating to the treatment of retirement benefits in case of open universities which in my opinion is a autonomous body...
neha gupta
(ca )
(188 Points)
Replied 27 March 2010
its depend on university.....whether it is registered or not.........if its is registered under aicte,ugc etc thn it should be traeted as govt employee....
bt its just ma opinion.....m nt sure...
it is gd Query......
manoj
(student)
(5205 Points)
Replied 27 March 2010
DEAR IT DEPEND ON UNIVERSITY PLUS ALSO CHECK WAT THE EMPLOYEES FILE IN THEIR RETURN GOVT EMPLOYEES R OTHERS
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
CAclubindia
