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)
Exemption on provident fund balance when recognition withdrawn - pre-withdrawal credit paid tax-free, remainder taxable. When recognition of a provident fund is withdrawn, the employee's account balance as at the end of the financial year prior to withdrawal is payable tax-free when received, subject to Fourth Schedule provisions; any remaining accumulated balance is taxable as if the fund had never been recognised.
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.
Exemption on provident fund balance when recognition withdrawn - pre-withdrawal credit paid tax-free, remainder taxable.
When recognition of a provident fund is withdrawn, the employee's account balance as at the end of the financial year prior to withdrawal is payable tax-free when received, subject to Fourth Schedule provisions; any remaining accumulated balance is taxable as if the fund had never been recognised.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.