Part DCA - Safe 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)
Deemed income on unrepaid provident fund withdrawals applies when repayment defaults or misuse of funds occurs. Default in repayment of instalments, or failure to use a withdrawn amount for the stated purpose, may result in the withdrawn amount or outstanding balance being added to the employee's total income for the relevant year. The Chief Commissioner or Commissioner may direct this addition, and the Assessing Officer must assess the employee accordingly. The rule functions as a deeming provision for amounts withdrawn from recognised provident funds that are not repaid or properly utilised.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deemed income on unrepaid provident fund withdrawals applies when repayment defaults or misuse of funds occurs.
Default in repayment of instalments, or failure to use a withdrawn amount for the stated purpose, may result in the withdrawn amount or outstanding balance being added to the employee's total income for the relevant year. The Chief Commissioner or Commissioner may direct this addition, and the Assessing Officer must assess the employee accordingly. The rule functions as a deeming provision for amounts withdrawn from recognised provident funds that are not repaid or properly utilised.
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