Section 69(3)(viii) in Income Tax Rules, 1962

[Cites 0, Cited by 0] [Section 69(3)] [Section 69] [Entire Act]

Union of India - Subsection

Section 69(3)(viii) in Income Tax Rules, 1962

(viii)if the amount withdrawn exceeds the actual cost of the purchase or construction of the house and/or site or if the amount is not utilised for the purpose for which it is withdrawn, the excess or the whole amount, as the case may be, shall be refunded to the trustees forthwith in one lump sum together with interest from the month of such withdrawal at the rate prescribed in sub-rule (4) of rule 71 and the amount so refunded shall be credited to the employee's account in the fund.

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Union of India - Subsection

Section 69(3)(viii) in Income Tax Rules, 1962