Retiring gratuity inclusion under the New Pension Code treated as within the Income tax proviso by amendment. Amendment to section 7 adds to the proviso to Explanation 2 that payments of retiring gratuity received under the New Pension Code applicable to members of the Defence Services shall be included, with such insertion deemed always to have been inserted, thereby bringing those gratuity payments within the proviso's scope for Income tax Act purposes.
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Provisions expressly mentioned in the judgment/order text.
Retiring gratuity inclusion under the New Pension Code treated as within the Income tax proviso by amendment.
Amendment to section 7 adds to the proviso to Explanation 2 that payments of retiring gratuity received under the New Pension Code applicable to members of the Defence Services shall be included, with such insertion deemed always to have been inserted, thereby bringing those gratuity payments within the proviso's scope for Income tax Act purposes.
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