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)
Approved gratuity fund eligibility for directors depends on whole-time employment and limited shareholding control. A director of a company may be admitted to the benefits of an approved gratuity fund only if he is a whole-time bona fide employee of the company and does not beneficially own shares carrying more than five per cent of the total voting power. The rule applies where the employer is a company and restricts fund membership to directors who satisfy both the employment and shareholding conditions.
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.
Approved gratuity fund eligibility for directors depends on whole-time employment and limited shareholding control.
A director of a company may be admitted to the benefits of an approved gratuity fund only if he is a whole-time bona fide employee of the company and does not beneficially own shares carrying more than five per cent of the total voting power. The rule applies where the employer is a company and restricts fund membership to directors who satisfy both the employment and shareholding conditions.
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