AdvocateKhoj
Login : Advocate | Client
Home Post Your Case My Account Law College Law Library
    

Report No. 12

296. Accumulated balance -

Exclusion from total income.- The accumulated balance due and becoming payable to an employee participating in a recognised provident fund shall be excluded from the computation of his total income-

(i) if he has rendered continuous service with his employer for a period of five years or more, or

(ii) if, though he has not rendered such continuous service, the Commissioner...., being of the opinion that the service has been terminated by reason of the employee's ill-health, or by the contraction or discontinuance of the employer's business or other cause beyond the control of the employee, allows the employee the benefit of this section.

[Section 58G(2) and section 7(1), Explanation 2, proviso part]



Income-Tax Act, 1922 Back




Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered and driven by neosys