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Report No. 12

298. Deduction at source of income-tax payable on accumulated balances.-

The trustees of a recognized provident fund, or any person authorised by the regulations of the fund to make payment of accumulated balances due to employees, shall, in cases where section 297(1) [58G(3) I applies, at the time an accumulated balance due to an employee is paid, deduct therefrom the amount payable under section 297 (1) [section 58G(3)1 , and all the provisions of sections 206 to 211 [18(4) to 18(9)] shall apply as if the accumulated balance were income chargeable under the head "Salaries".

[Section 58H]

Income-Tax Act, 1922 Back

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