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[Cites 0, Cited by 0] [Section 392(7)] [Section 392] [Entire Act]

Union of India - Subsection

Section 392(7)(b) in The Income Tax Act, 2025

(b)any person authorised under such scheme to make payment of accumulated balance due to employees, shall at the time of payment of accumulated balance due to the employee participating in a recognised provident fund, deduct income-tax thereon at the rate of 10%, where the aggregate amount of such payment is ₹ 50000 or more, and such accumulated balance is includible in his total income owing to the provisions of paragraph 8 of Part A of Schedule XI not being applicable.