Please let me know about the tax planning on my superannuation benefits which will be received by way of PF, Gratuity, Encashment benefits and other benefits. How to invest them and any tax applicability on the investments.
RE:Tax planning on superannuation
by Amit Phatak on Jun 28, 2008 02:10 PM Permalink
on EPF I can say is you should not withdraw it ideally (till your retirement). If you withdrwaw it nonetheless after 5 years of being with the employer (or 5 years on the same PF account transferred from old to new employer) the amount is tax free. If not, you have to pay tax on it and also refund the tax benefit you gained (if you claimed it under 80C) on the EPF..
Rediff had an Outlook Money article on Gratuity 3-4 days back.. Search for it..
RE:Tax planning on superannuation
by Benny Thomas on Jul 02, 2008 12:00 PM Permalink
If you are nearing your retirement, then the best option to invest would be in a Unit Linked Plan which provides you the additional benefit of Insurance cover. Not only are your payments to such plans tax-free, but your final returns are tax free as well and you get the benefit of insurance as a bonus. Certainly the best option available. For help call 919868493843
