Dismissing the appeal of the assessee the Tribunal held that ; the contributions to the provident fund that was not recognised by the Chief Commissioner or the Commissioner in accordance with the rules contained in the Part A of the Fourth Schedule or under a scheme framed under the Employees\u2019 Provident Funds Act, 1952, therefore\u00a0 not entitled to deduction under S.\u00a080C\u00a0. Interest accrued to the assessee on the contributions to such unrecognised provident fund is taxable as income from other sources . Accordingly the assessee is liable to deduct tax at source u\/s 192 of the Act. ( AY.2007 -08 , 2008 -09)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 192 : Deduction at source \u2013 Salary -Contributions to unrecognised Provident Fund is not eligible for deduction u\/s 80C. Interest accrued to Employees contribution to unrecognised Provident Fund is taxable as income from other sources and liable for deduction of tax at source [ S.2(38) 80C, 201(1) 201(IA) ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1626","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-qe","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/1626","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=1626"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/1626\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=1626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=1626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=1626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}