Laws and Bare Acts of India at

MyNation Foundation Online Law Library

Sch. IV Part A Rule 15 – Income Tax Act, 1961

Income Tax Act, 1961





(1) In addition to any power conferred by this Part, the Board may make rules – (a) Prescribing the statements and other information to be submitted along with an application for recognition;


(b) Limiting the contributions to a recognised provident fund by employees of a company who are shareholders in the company;


(bb) Regulating the investment or deposit of the moneys of a recognised provident fund :


Provided that no rule made under this clause shall require the investment of more than fifty per cent. of the moneys of such fund in Government securities as defined in section 2 of the Public Debt Act, 1944 (18 of 1944); 


(c) Providing for the assessment by way of penalty of any consideration received by an employee for an assignment of, or creation of a charge upon his beneficial interest in a recognised provident fund; 


(d) Determining the extent to and the manner in which exemption from payment of tax may be granted in respect of contribution and interest credited to the individual accounts of employees in a provident fund from which recognition has been withdrawn; and


(e) Generally, to carry out the purpose of this Part and to secure such further control over the recognition of provident funds and the administration of recognised provident funds as it may deem requisite. 


(2) All rules made under this Part shall be subject to the provisions of section 296.


Previous | Next


Income Tax Act, 1961 


Indian Laws – Bare Acts

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2022 Laws and Bare Acts of India at

Free Legal Help, Just WhatsApp Away

MyNation HELP line

We are Not Lawyers, but No Lawyer will give you Advice like We do

Please read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registration  JOIN WELCOME GROUP HERE

We handle Women Centric biased laws like False Section 498A IPC, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307, 312, 313, 323, 354, 376, 377, 406, 420, 497, 506, 509; TEP, RTI and many more…

MyNation FoundationMyNation FoundationMyNation Foundation