Tax on accumulated balance of recognised provident fund.

Tax1961681 sections21 chapters

Chapter XII DETERMINATION OF TAX IN CERTAIN SPECIAL CASES

Statutory text

(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 1[Assessing Officer] shall calculate the total of the various sums of 2[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.

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