Please let me know the tax treatment on superannuation fund. Whether the tax will be calculated as per the income tax slab or any fixed percentage of tax will 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.
Pon
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