Part DCASafe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC )
Taxable perquisite on annual accretion in specified funds is computed using employer contributions and accrued income. Annual accretion in the specified fund or scheme is a taxable perquisite under the salary provisions when it consists of interest, dividend, or similar ... Summary
Taxable perquisite on annual accretion in specified funds is computed using employer contributions and accrued income.
Annual accretion in the specified fund or scheme is a taxable perquisite under the salary provisions when it consists of interest, dividend, or similar income credited during the previous year. The rule prescribes a formula based on excess employer contribution, accrued income, and the average balance of the fund or scheme, and defines the variables used in that computation. It also requires prior-year taxable perquisite amounts and excess contributions to be carried into the current year, subject to a cap linked to the opening balance.
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