Employee welfare fund approval requires a trust deed, employee subscriptions, and satisfaction of prescribed conditions. Approval of a fund for the welfare of employees and their dependents requires the fund to be established as a trust under a trust deed and financed by employees' periodical subscriptions. The application must be made in Form No. 180 before the jurisdictional Principal Commissioner of Income-tax or Commissioner of Income-tax with the prescribed documents. Approval may be granted only if all conditions are satisfied, for a period not exceeding three tax years, and rejection must be reasoned and preceded by a reasonable opportunity of being heard.
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.
Employee welfare fund approval requires a trust deed, employee subscriptions, and satisfaction of prescribed conditions.
Approval of a fund for the welfare of employees and their dependents requires the fund to be established as a trust under a trust deed and financed by employees' periodical subscriptions. The application must be made in Form No. 180 before the jurisdictional Principal Commissioner of Income-tax or Commissioner of Income-tax with the prescribed documents. Approval may be granted only if all conditions are satisfied, for a period not exceeding three tax years, and rejection must be reasoned and preceded by a reasonable opportunity of being heard.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
