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 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.
[As amended by the Finance Act, 1974]