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Section 111 – Income Tax Act, 1961

Income Tax Act, 1961

 

Section 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 [Assessing Officer] shall calculate the total of the various sums of [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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Income Tax Act, 1961 

 

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