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Income Tax Exemption under Section 10(13) of Income Tax Act, 1961


Eligible Assessee

An Individual




Nature of Income

Any payment received from Superannuation Fund


Amount Exempt

Entire amount


Conditions laid down for Tax Exemption
The payment of superannuation fund is made

  1. On death of beneficiary

  2. In lieu of or commutation of annuity on retirement at or after specified age Or he being incapacitated before such retirement

  3. As refund of contribution on death of beneficiary.

  4. As a refund of contribution on leaving service, to the extent payment does not exceed contribution and interest thereon prior to commencement of I T Act,1961

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