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)
Gratuity fund arrangements on business winding up require prior approval and compliance conditions to protect beneficiaries. Where an employer's trade or undertaking is to be wound up or discontinued, the trustees of an approved gratuity fund must make satisfactory arrangements for payment of gratuity to the existing beneficiaries. Such arrangements require prior approval of the Chief Commissioner or Commissioner and must comply with any conditions imposed by that authority.
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.
Gratuity fund arrangements on business winding up require prior approval and compliance conditions to protect beneficiaries.
Where an employer's trade or undertaking is to be wound up or discontinued, the trustees of an approved gratuity fund must make satisfactory arrangements for payment of gratuity to the existing beneficiaries. Such arrangements require prior approval of the Chief Commissioner or Commissioner and must comply with any conditions imposed by that authority.
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