Which of the following is not correct about the approved superannuation fund
A. Employees’ contribution qualifies for deduction under section 80C
B. Any amount contributed by the employer is exempt from tax
C. Interest on accumulated balance is exempt from income-tax
D. Under some circumstances, payments from the fund are chargeable to income-tax
Answer:B
Which of the following is not correct about the approved superannuation fund
A. Employees’ contribution qualifies for deduction under section 80C B. Any amount contributed by the employer is exempt from tax C. Interest on accumulated balance is exempt from income-tax D. Under some circumstances, payments from the fund are chargeable to income-tax