Rule – 79, Withdrawal of recognition
March 28, 2018
Rule – 81, Appeal
March 28, 2018

Rule – 80, Exemption from tax when recognition withdrawn

80. If the 9[Chief Commissioner or Commissioner] withdraws recognition from a provident fund, the balance to the credit of each employee at the end of the financial year prior to the date of the withdrawal of recognition shall, subject to the provisions of rule 9 of Part A of the Fourth Schedule, be paid to him free of 10[tax] at the time when such employee receives the accumulated balance due to him. The remainder of the accumulated balance due to him shall be liable to 10[tax] as if the fund had never been recognised.




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