TaxTMI 
TaxTMI 
Employer's Contribution towards Pension Fund/Scheme- Exemption
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....mployer's Contribution towards Pension Fund/Scheme- Exemption<br> Query (Issue) Started By: - Sunil Agarwal Dated:- 6-3-2012 Last Reply Date:- 12-3-2012 Income Tax<br>Got 1 Reply<br>Income Tax<br>Emp....
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....loyer's contribution to an approved superannuation fund is exempt from tax u/s 17(2)(vii) to the extent of Rs. one lakh per annuam. Further, as per provision of Section 80CCD (2) contribution made by ....
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....the employer to a notified pension scheme is exempt from tax to the extent of 10% of salary. A doubt has arisen whether an employee may claim exemption towards pension fund and notified pension scheme....
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.... separately for a year. For emample, if the salary of an employee is Rs. 10 lakh, can he contibute 1 lakh each under u/s 17(2) as well as u/s80DD(2) so that he may claim tax free income for Rs. 2 lak....
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....h. I would like to mention that the contribution u/s 80DD(2 is outside the limit of Rs. 1 lakh as mention u/s 80CCE w.e.f. 1.04.2012. To my understanding, it is possible. I need views of Experts Rep....
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....ly By GOPALJI AGRAWAL: The Reply: Sunil Ji, you seem correct. But please note that withdrawals from such pension scheme is taxable.<br> Discussion Forum - Knowledge Sharing ....