Deemed receipt of income: pension and provident accretions and dividends are attributed to the tax year when realized or made available. Clause 7 deems specified receipts to be received in the tax year: annual accretions to a recognised provident fund, transferred provident balances and employer or Central Government contributions to employee pension accounts; it also provides that dividends are income in the tax year they are declared, distributed or paid, and that interim dividends are income when unconditionally made available to the entitled member.
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 receipt of income: pension and provident accretions and dividends are attributed to the tax year when realized or made available.
Clause 7 deems specified receipts to be received in the tax year: annual accretions to a recognised provident fund, transferred provident balances and employer or Central Government contributions to employee pension accounts; it also provides that dividends are income in the tax year they are declared, distributed or paid, and that interim dividends are income when unconditionally made available to the entitled member.
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