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)
Taxable interest on provident fund contributions is computed through separate taxable and non-taxable contribution accounts under the income tax rules. Prescribes the method for computing taxable interest on contributions to a provident fund or recognised provident fund where the contribution exceeds the specified threshold under the relevant provisos to section 10(11) and section 10(12). The taxable interest is determined as the interest accrued during the previous year on the taxable contribution account, and separate accounts must be maintained for taxable and non-taxable contributions from the previous year 2021-2022 onwards.
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.
Taxable interest on provident fund contributions is computed through separate taxable and non-taxable contribution accounts under the income tax rules.
Prescribes the method for computing taxable interest on contributions to a provident fund or recognised provident fund where the contribution exceeds the specified threshold under the relevant provisos to section 10(11) and section 10(12). The taxable interest is determined as the interest accrued during the previous year on the taxable contribution account, and separate accounts must be maintained for taxable and non-taxable contributions from the previous year 2021-2022 onwards.
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