Section 111 - Tax on accumulated balance of recognised provident fund

Tax on Provident Fund Balances: Aggregate income per Rule 9(1); super-tax on later payments per Rule 9(2)

Where an employee's accumulated balance in a recognised provident fund is included in taxable income because rule 8 of Part A of the Fourth Schedule does not apply, the assessing officer must compute the tax on that balance by aggregating the amounts as required by sub-rule (1) of rule 9. If such an accumulated balance was not included under rule 8 but later becomes payable, the super-tax on that payment must be determined in the manner prescribed by sub-rule (2) of rule 9.