Annual accretion referred to in the sub-clause (viia) of clause (2) of section 17 of the Act.

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....unt of similar nature during the previous year (hereinafter in this rule referred to as the current previous year) to balance to the credit of the fund or scheme referred to in sub-clause (vii) of clause (2) of section 17 of the Act shall be the amount or aggregate of amounts computed in accordance with the following formula, namely:- TP= (PC/2)*R + (PC1+ TP1)*R Where, TP= Taxable perquisite ....

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....e of amounts of income accrued during the current previous year in the specified fund or scheme account; Favg = (Amount or aggregate of amounts of balance to the credit of the specified fund or scheme on the first day of the current previous Year + Amount or aggregate of amounts of balance to the credit of the specified fund or scheme on the last day of the current previous year)/2. Explanation....