Income-tax Act : Tax on accumulated balance of recognised provident fund Indian Bare Acts :

Income-tax Act,1961

Act No : 43

Section : Tax on accumulated balance of recognised provident fund

111. Tax on accumulated balance of recognised provident fund (1)Where the accumulated balance due to an employee participating in a recognised provident fund is included in his total income, owing to the provisions of rule 8 of Part A of the Fourth Schedule not being applicable the 3[Assessing] Officer shall calculate the total of the various sums of 4 [tax] in accordance with the provisions of sub-rule (1) of rule 9 thereof. (2)Where the accumulated balance due to an employee participating in a recognised provident fund which is not included in his total income under the provisions of rule 8 of Part A of the Fourth Schedule becomes payable, super-tax shall be calculated in the manner provided in sub-rule (2) of rule 9 thereof.