Treatment of Superannuation Contribution

[SABYASACHI SENGUPTA]

With the withdrawl of FBT and announcement of the new Perq valuation rules, how will Superannuation Contribution by Employer be treated ?

[Rama Krishana]

Perquisite Includes: (vii) the amount of any contribution to an approved superannuation fund by the employer in respect of the assessee, to the extent it exceeds one lakh rupees; and

AI Summary

Employer superannuation contribution treated as perquisite under revised valuation rules, taxable to the employee beyond specified threshold. Employer contributions to an approved superannuation fund are treated as a perquisite; the amount of any contribution in respect of the employee is included as perquisite to the extent it exceeds one lakh rupees under the revised perquisite valuation rules following withdrawal of fringe benefits tax.