Deemed receipt of income: pension and provident accretions and dividends are attributed to the tax year when realized or made available.

Clause 7 deems specified receipts to be received in the tax year: annual accretions to a recognised provident fund, transferred provident balances and employer or Central Government contributions to employee pension accounts; it also provides that dividends are income in the tax year they are declared, distributed or paid, and that interim dividends are income when unconditionally made available to the entitled member.

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