05/02/2019
Employer's contribution to recognised provident fund and approved superannuation fund [Sec 36(1)(iv)]
Employer's contribution towards a recognised provident fund or an approved superannuation fund is allowable as deduction subject to the limits laid down for the purpose of recognising the provident fund or approving superannuation fund [Fourth Schedule and rules 87 and 88]. However ,such contribution is allowed as deduction to the extent it is actually paid.
Employer’s contribution to National Pension System (NPS) [Sec. 36(1)(iva):
Is applicable from the assessment year 2012-13] Employer's contribution towards NPS (as referred to in section 80CCD on account of an employee is deductible from the assessment year 2012 13. However, deduction is limited to 10 percent of salary of the employee
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