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SUPERANNUATION FUND TAX
New income tax regime: Don’t miss out on these 3 key deductions that will reduce your taxable income & help save more taxMany taxpayers mistakenly believe the New Tax Regime offers no deductions. However, salaried employees and pensioners can claim a Rs 75,000...
If I resign today with Rs 24 lakh superannuation and Rs 9 lakh in gratuity, can I save tax by transferring these to NPS?ET Wealth Reader's Query: I have been employed with a company for a long time, and have accumulated approximately Rs 24 lakh in superannuat...
Your retirement kitty is not tax-free in NPS, EPF and Superannuation funds: How outdated taxation is draining your savings, will Budget 2026 help?Indian retirement schemes are not fully tax-exempt as commonly believed. Contribution and growth limits mean many salaried individuals face...
How to report tax-exempt incomes in ITR-1An individual taxpayer is required to report all his incomes that are taxable as well as tax-exempt incomes in his/her income tax return. H...
Tax on EPF, NPS, Superannuation fund: Here's all you need to know about itEmployer contributions to retirement funds such as Employees Provident Fund (EPF), National Pension System (NPS), or any other superannuati...
Do I need to include the withdrawn EPF proceeds in ITR after leaving the job?At the time of withdrawal, the PF authorities will deduct tax at 10% on entire PF proceeds (assuming you have furnished your PAN to the PF ...
Budget 2020 may tax employer's excess contribution to EPF, NPS twiceThe budget proposal was made to restrict the tax-exempt contribution by employer to EPF, NPS and superannuation fund to Rs 7.5 lakh in an F...
Funds transferred from PF to NPS not taxable: PFRDA"The amount so transferred from recognised Provident Fund/Superannuation Fund to NPS is not treated as income of the current year and hence...
How to move funds from EPF to NPSTo make the transfer, a request must be made to the recognized employee provident fund or superannuation fund to his NPS account.
How not to let tax hit NPS redemptionApart from providing tax benefits of up to Rs 1.5 lakh along with under instruments under Section 80C, NPS has an exclusive window of Rs 50...
Budget 2016: Tax exemption raised to Rs 1.5 lakh under superannuation fund"Exemption limit is proposed to be increased from Rs 1 lakh to Rs 1.5 lakh for annual contribution by an employer to a superannuation fund.
Budget 2016: 60% of withdrawal from EPF built via employee contributions after 1st April 2016 made taxablePrima facie, the Budget 2016 has proposed making 60% of employee contribution EPF corpus taxable for contributions after 1.4.2016.
- Regulator pitches for tax relief on New Pension Scheme to make it attractive
The interim pension regulator has sought tax relief on investments in the New Pension Scheme (NPS) to make it more attractive to employees ...
- Pvt PF & superannuation funds' equity returns set to be tax-free
Govt plans to give tax-free status to returns earned by private PFs and superannuation funds from their investments in shares of cos.
- Investment guidelines for pvt sector provident trust soon: Govt
The Finance Ministry will shortly issue investment guidelines for private sector superannuation funds, 10 months after it issued draft prop...
- Govt likely to exempt PSBs from FBT on pension funds
The government is examining a proposal to exempt public sector banks from fringe benefit tax (FBT) on their contribution to statutory pensi...
- Retirement fund payout for work in India taxable here: AAR
The Authority for Advance Rulings (AAR) has recently held that the amount received from a superannuation fund for employment exercised in I...