Section 7 → Section 7
Income deemed to be received
Quick Answer
Section 7 of the Income Tax Act, 1961 (Income deemed to be received) corresponds to Section 7 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
Sec 7
Provision Summary
Statutory provident fund contributions and recognized PF contributions are deemed to be received by the employee.
Sec 7
Provision Summary
Retained. Aligned with updated labour codes and EPF limits.
Key Changes & Highlights
- Interest above specified PF contribution limits explicitly mapped here.
Related Sections
Frequently Asked Questions
What does Section 7 of the Income Tax Act 1961 deal with?
Section 7 (Income deemed to be received) Statutory provident fund contributions and recognized PF contributions are deemed to be received by the employee.
What is the new section number for Section 7 under the Direct Tax Code 2025?
Section 7 of the ITA 1961 maps to Section 7 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 7 under the new tax code?
Section 7 is marked as "Retained" with status "Active". Impact: Medium - Affects high-salary earners' PF taxation.
What are the key changes to Section 7 under DTC 2025?
Interest above specified PF contribution limits explicitly mapped here.
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
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