https://www.taxtmi.com/caselaws?id=63290 Interest credited by a recognised provident fund to accounts of retired employees was held not to fall within the exemption in section 10(12) because that relief is confined to accumulated balances payable on cessation of service and only within the conditions in rule 8 of Part A of the Fourth Schedule. As the credits were made after employment had ended and did not satisfy the statutory contingencies, the amounts remained taxable interest under section 194A. The fund was therefore required to deduct tax at source, and its treatment as an assessee in default under sections 201 and 201(1A) was upheld. en-us Mon, 29 Aug 2005 00:00:00 +0530 Fri, 22 Jun 2012 16:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63290 Interest credited by a recognised provident fund to accounts of retired employees was held not to fall within the exemption in section 10(12) because that relief is confined to accumulated balances payable on cessation of service and only within the conditions in rule 8 of Part A of the Fourth Schedule. As the credits were made after employment had ended and did not satisfy the statutory contingencies, the amounts remained taxable interest under section 194A. The fund was therefore required to deduct tax at source, and its treatment as an assessee in default under sections 201 and 201(1A) was upheld. Case-Laws Income Tax Mon, 29 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63290