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Section 7 – Income Tax Act, 1961

Income Tax Act, 1961

 

Section 7. INCOME DEEMED TO BE RECEIVED.

 

The following incomes shall be deemed to be received in the previous year :- (i) The annual accretion in the previous year to the balance at the credit of an employee participating in a recognised provident fund, to the extent provided in rule 6 of Part A of the Fourth Schedule;

 

(ii) The transferred balance in a recognised provident fund, to the extent provided in sub-rule (4) of rule 11 of Part A of the Fourth Schedule.

 

Related Judgements

 

TUTICORIN VEGETABLE MARKETING CO. (P) LTD. v. INCOME-TAX OFFICER & ANR.

 

 

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Income Tax Act, 1961 

 

Indian Laws – Bare Acts

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