Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Initial contribution deduction for approved superannuation funds is capped by salary-linked limits and provident fund reductions. Deduction for an initial contribution made by an employer in respect of the past services of an employee admitted to the benefits of an approved superannuation fund is subject to Board-specified conditions. The allowable deduction is capped at twenty-five per cent of salary for each year of past service, and after 21 September 1997 at twenty-seven per cent. The employer's contribution to any provident fund for the same employee and year is to be reduced in computing the limit.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Initial contribution deduction for approved superannuation funds is capped by salary-linked limits and provident fund reductions.
Deduction for an initial contribution made by an employer in respect of the past services of an employee admitted to the benefits of an approved superannuation fund is subject to Board-specified conditions. The allowable deduction is capped at twenty-five per cent of salary for each year of past service, and after 21 September 1997 at twenty-seven per cent. The employer's contribution to any provident fund for the same employee and year is to be reduced in computing the limit.
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