Income deemed to be received
Income deemed to be received.
7. The following incomes shall be deemed to be received in the previous year :—
( i) the annual accretion in the previous year to the balance at the credit of an employee participating in a recognised provident fund, to the extent provided in rule of 6 of Part A of the Fourth Schedule;
( ii) the transferred balance in a recognised provident fund, to the extent provided in sub-rule (4) of rule 11 of Part A of the Fourth Schedule.