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of <h1>Commissioners Must Verify Provident Fund Recognition Before Allowing Deductions; Notify ITOs on Status of Applications.</h1> The circular instructs that each Commissioner's office must verify that recognized provident funds continue to meet the conditions for retaining recognition. If recognition is withdrawn, a copy of the order should be sent to the relevant Income Tax Officers (ITOs). The Board noted instances where deductions were allowed for employer contributions to provident funds while recognition applications were pending, which is a serious oversight. ITOs should ensure that funds have recognition and verify its status before allowing deductions. They should also inform relevant parties about the status of new recognition applications to handle deduction claims accurately.
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