Please let me know the tax treatment on the superannuation fund. Will the tax be calculated as per the income tax slab, or will a fixed percentage of tax be applicable?
You need to calculate tax as per the normal income tax rates. However, as it is an employee welfare trust, you can seek income tax exemption from the department.
I think the lump sum amount to be received is tax-exempt. Only the annuities are taxable as per existing tax rules.
Regards, Pon
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