LIVE Online Course on NDPS by Riva Pocha and Adv. Taraq Sayed. Starting from 24th May. Register Now!!
LAW Courses

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

sanjeev kumar (cleark)     25 June 2010

Pension Contribution

Sir,

I am a banker and recently Bank employees Unions and Goverment has entered into an agreement for wage revision and pension option to bank employees.

Out of wage reviison arrear , employee has to pay 50000 to 70000 to bank pension fund to get pension in future.

This amount of arrear ( 50000 to 70000 ) bank is taxing as income. But when an amount not recieved by employee and given bank to employer for pension in future than is it correct to tax it.   

Regards



Learning

 1 Replies

Adv.Aiyer VLV (Proprietor)     25 June 2010

It is equivalent to you receiving salary and investing in any pension fund of mutual funds

so taxation is at income point. 

pension fund return is your investment point

regards


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Post a Suggestion for LCI Team
Post a Legal Query