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Definition of the word 'Family' appearing in rule 67A and permission for withdrawal for house building advances and other purposes-Amendment in rule 67A, 68, 69, 70 to the Income-tax Rules, 1962
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Definition of Family clarifies withdrawal eligibility for house building advances under amended income tax rules for provident fund subscribers. Amendments to rules 67A-70 of the Income tax Rules, 1962 redefine the term Family in rule 67A and modify permissions for withdrawals from recognised provident funds for house building advances and other permitted purposes to benefit subscribers; the notification of these amendments was issued under the Income tax (Fifth Amendment) Rules, 1985 and was directed to be exhibited on departmental notice boards for public information.
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Definition of Family clarifies withdrawal eligibility for house building advances under amended income tax rules for provident fund subscribers.
Amendments to rules 67A-70 of the Income tax Rules, 1962 redefine the term Family in rule 67A and modify permissions for withdrawals from recognised provident funds for house building advances and other permitted purposes to benefit subscribers; the notification of these amendments was issued under the Income tax (Fifth Amendment) Rules, 1985 and was directed to be exhibited on departmental notice boards for public information.
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