Section 111Central Act
Section 111: Tax on accumulated balance of recognised provident fund
Tax on accumulated balance of recognised provident fund.
(1)
Where the accumulated balance due to an employee participating in a recognised provident fund is included in his total income, owing to the provisions of rule 8 of Part A of the Fourth Schedule not being applicable, the [Assessing Officer] [ Substituted by Act 4 of 1988, Section 2, for " Income-tax Officer" (w.e.f. 1.4.1988).] shall calculate the total of the various sums of [tax] [ Substituted by Act 10 of 1965, Section 33, for " Income-tax super-tax" (w.r.e.f. 1.4.1965).] in accordance with the provisions of sub-rule (1) of rule 9 thereof.(2)
Where the accumulated balance due to an employee participating in a recognised provident fund which is not included in his total income under the provisions of rule 8 of Part A of the Fourth Schedule becomes payable, super-tax shall be calculated in the manner provided in sub-rule (2) of rule 9 thereof.Previous
Sec 110 — [ Determination of tax where total income includes income on which no tax is payable. [ Substituted by Act 10 of 1965, Section 32, for Section 110 (w.r.e.f. 1.4.1965).]
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Sec 111A — [ Tax on short-term capital gains in certain cases. [Inserted by Act 23 of 2004, Section 26 (w.e.f. 1.4.2005).]
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