Recognition of provident funds deadline extended to March 2012 with retrospective effect from January 2011. Clause 33 substitutes '31st day of December, 2010' with '31st day of March, 2012' in the first proviso to sub rule (1) of rule 3, Part A, Fourth Schedule to the Income tax Act, extending the compliance deadline for recognised provident funds and deeming the substitution effective from 1st January, 2011; the proviso concerns withdrawal of recognition where funds do not satisfy clause (ea) of rule 4 and any Board specified conditions.
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Recognition of provident funds deadline extended to March 2012 with retrospective effect from January 2011.
Clause 33 substitutes "31st day of December, 2010" with "31st day of March, 2012" in the first proviso to sub rule (1) of rule 3, Part A, Fourth Schedule to the Income tax Act, extending the compliance deadline for recognised provident funds and deeming the substitution effective from 1st January, 2011; the proviso concerns withdrawal of recognition where funds do not satisfy clause (ea) of rule 4 and any Board specified conditions.
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