Calculation of taxable interest relating to contribution in a provident fund or recognised provided fund, exceeding specified limit

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..... provisos to clauses (11) and (12) of section 10 , income by way of interest accrued during the previous year which is not exempt from inclusion in the total income of a person under the said clauses (hereinafter in this rule referred to as the taxable interest), shall be computed as the interest accrued during the previous year in the taxable contribution account. (2) For the purpose of calcul .....

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..... ontribution account shall be the aggregate of the following, namely:- (i) contribution made by the person in a previous year in the account during the previous year 2021-2022 and subsequent previous years, which is in excess of the threshold limit; and (ii) interest accrued on sub- clause (i), as reduced by the withdrawal, if any, from such account; and (c) The threshold limit shall me .....

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