Employer contribution limit to approved superannuation increased, raising the tax-exempt threshold for perquisites from the stated assessment year. Amendment raises the employer contribution threshold to an approved superannuation fund treated as a perquisite under section 17(2)(vii), reducing the portion of contributions treated as taxable perquisite where contributions remain within the revised limit. The change takes effect from the commencement of the relevant assessment year and applies to that assessment year and subsequent years.
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Provisions expressly mentioned in the judgment/order text.
Employer contribution limit to approved superannuation increased, raising the tax-exempt threshold for perquisites from the stated assessment year.
Amendment raises the employer contribution threshold to an approved superannuation fund treated as a perquisite under section 17(2)(vii), reducing the portion of contributions treated as taxable perquisite where contributions remain within the revised limit. The change takes effect from the commencement of the relevant assessment year and applies to that assessment year and subsequent years.
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