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Rule 78 of Income Tax Rules 1962: Order of recognition

Rule 78 : Order of recognition
(Part XII : Recognised Provident Funds)

An order according recognition to a provident fund shall take effect from the last day of the month in which the application for recognition is received by the income-tax authority concerned, unless, at the request of the employer, the last day of any later month in the same financial year is specified :

Provided that if the Chief Commissioner or Commissioner is satisfied that there was sufficient reason for the delay in making such application, he may accord recognition to the fund from a date not earlier than the 1st day of April of the financial year in which the application is made.

Extra Notes for Readers:

- The Proviso to the Rule 78 was inserted by the Income Tax (2nd Amendment) Rules, 1971

Check at Income Tax Dept. official site for latest version of the Rule.

This page was created/last updated on 17th October 2016.