Ravi is employed in cotton India Ltd. as accounts manager. The employer paid ₹ 1,60,000 as contribution to approved superannuation fund to benefit the employee Ravi. The amount of such contribution liable to tax as perquisite in the hands of Mr. Ravi is –
A. Nil
B. ₹ 10,000
C. ₹ 1,60,000
D. ₹ 60,000
Answer:B
Ravi is employed in cotton India Ltd. as accounts manager. The employer paid ₹ 1,60,000 as contribution to approved superannuation fund to benefit the employee Ravi. The amount of such contribution liable to tax as perquisite in the hands of Mr. Ravi is –
A. Nil B. ₹ 10,000 C. ₹ 1,60,000 D. ₹ 60,000