{"id":3854,"date":"2018-03-01T15:10:14","date_gmt":"2018-03-01T09:40:14","guid":{"rendered":"https:\/\/www.hostbooks.com\/in\/?p=3854"},"modified":"2023-07-18T14:17:28","modified_gmt":"2023-07-18T08:47:28","slug":"section-111-tax-accumulated-balance-recognised-provident-fund","status":"publish","type":"post","link":"https:\/\/www.hostbooks.com\/in\/hb\/income-tax-act-1961\/section-111-tax-accumulated-balance-recognised-provident-fund\/","title":{"rendered":"Section 111: Tax on Accumulated Balance of Recognised Provident Fund"},"content":{"rendered":"<p><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.hostbooks.com\/in\/wp-content\/uploads\/2018\/03\/section-111.jpg\" alt=\"section 111\" width=\"930\" height=\"400\" class=\"aligncenter size-full wp-image-16676\" srcset=\"https:\/\/www.hostbooks.com\/in\/hb\/wp-content\/uploads\/2018\/03\/section-111.jpg 930w, https:\/\/www.hostbooks.com\/in\/hb\/wp-content\/uploads\/2018\/03\/section-111-300x129.jpg 300w, https:\/\/www.hostbooks.com\/in\/hb\/wp-content\/uploads\/2018\/03\/section-111-768x330.jpg 768w, https:\/\/www.hostbooks.com\/in\/hb\/wp-content\/uploads\/2018\/03\/section-111-260x112.jpg 260w, https:\/\/www.hostbooks.com\/in\/hb\/wp-content\/uploads\/2018\/03\/section-111-50x22.jpg 50w, https:\/\/www.hostbooks.com\/in\/hb\/wp-content\/uploads\/2018\/03\/section-111-150x65.jpg 150w\" sizes=\"(max-width:767px) 700px, (max-width:930px) 100vw, 930px\" \/><\/p>\n<p>Section 111 of Income Tax Act, 1961 amended by Income tax rules and Finance Act 2022 outlines the tax implications for the accumulated balance in a recognized provident fund based on whether it is included in the employee&#8217;s total income or becomes payable in the future. The specific calculations are determined by the rules mentioned in the Income Tax Rules.<\/P><\/p>\n<h2>Section 111\u202fof Income Tax Act 1961<\/h2>\n<ul>\n<li><b>111. (1).<\/b> 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 shall calculate the total of the various sums of tax in accordance with the provisions of sub-rule (1) of rule 9 thereof.<\/li>\n<li><b>111. (2).<\/b> 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.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Section 111 of Income Tax Act, 1961 amended by Income tax rules and Finance Act<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":68,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3126,446],"tags":[],"yst_prominent_words":[3131,3128,3133,3127,6600,6598,3129,558,3130,6605],"_links":{"self":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/3854"}],"collection":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/users\/68"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/comments?post=3854"}],"version-history":[{"count":8,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/3854\/revisions"}],"predecessor-version":[{"id":16677,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/3854\/revisions\/16677"}],"wp:attachment":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/media?parent=3854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/categories?post=3854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/tags?post=3854"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/yst_prominent_words?post=3854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}