Give the examples of the incomes which are deemed to be received in India in the previous year.

Income Deemed to be Received in India (Sec. 7]: The following incomes which are not actually received in India during previous year, but the law considers them to be received in India during previous year—

  • Contribution made by the employer in Recognized provident fund in excess of 12% of salary of the employee.
  • Interest credited to R.P.F. in excess of 9.5%.
  • Transferred balance transferred from unrecognized P.F. to Recognized provident Fund.
  • Contribution made by the employer in notified contribution Pension Scheme u/s 80CC D.
  • Tax deducted at source.
  • Deemed Profits chargeable to tax u/s, 41 and 59.

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