Section 111 of ITA, 1961 : Section 111: Tax On Accumulated Balance Of Recognised Provident Fund

Explanation using Example

Imagine an employee named Rohit who has been contributing to a recognised provident fund for several years. Due to certain conditions not being met, as outlined in rule 8 of Part A of the Fourth Schedule of the Income-tax Act, 1961, the accumulated balance in his provident fund account becomes taxable. When Rohit decides to withdraw this amount, the tax on this accumulated...

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