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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Taxation Laws (Amendment) Act 1970: Provident & Gratuity Fund Investment Capped at 50% in Government Securities.</h1> The amendment to the Fourth Schedule of the Income-tax Act, 1961, introduced by the Taxation Laws (Amendment) Act, 1970, involves several modifications. In Part A, a new clause regulates the investment of recognized provident fund monies, capping government securities investment at 50%. Part B amends rules for superannuation funds similarly. Part C requires additional financial documentation for fund approval and introduces a rule mandating trustees and employers to provide information about gratuity funds upon request. It also limits the investment of gratuity fund monies in government securities to 50%.
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