Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Annuity funding for superannuation funds requires insurance schemes or annuity purchases, with a limited pension-trust exclusion. Trustees of an approved superannuation fund must provide annuities for beneficiaries by entering into a scheme of insurance with the Life Insurance Corporation or another insurer, or by accumulating contributions and purchasing an annuity on retirement, death, or earlier incapacity. The rule also excludes funds constituted under an irrevocable trust whose sole purpose is to pay pension or family pension under specified banking and development finance enactments.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Annuity funding for superannuation funds requires insurance schemes or annuity purchases, with a limited pension-trust exclusion.
Trustees of an approved superannuation fund must provide annuities for beneficiaries by entering into a scheme of insurance with the Life Insurance Corporation or another insurer, or by accumulating contributions and purchasing an annuity on retirement, death, or earlier incapacity. The rule also excludes funds constituted under an irrevocable trust whose sole purpose is to pay pension or family pension under specified banking and development finance enactments.
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