n NISM Certifications
X NISM Series X
Medium

To obtain tax exemption for contributions to a superannuation fund, an employer must get the fund approved by the Director of Income Tax, who grants the necessary approval under tax laws.

Practice question from NISM Series XB- Investment Adviser (Level 2) Mock Test 1 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    SEBI

  2. B

    Office of the Charity Commissioner

  3. C

    The Provident Fund Commissioner

  4. The Commissioner of Income tax

    Correct answer

Why this is the answer

Approval from the Commissioner of Income Tax is required for superannuation funds to qualify for tax benefits under tax laws.

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