Life Insurance Corporation's new annuity plan with return of corpus with group pension terminal bonus - Approval by Commissioner to deed of variation executed by approved superannuation funds incorporating new annuity plan - Part B of Fourth Schedule read with rule 89 of Income-tax Rules
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Approval of deed of variation: Commissioners may permit incorporation of LIC annuity plan if statutory conditions are satisfied. Commissioner approval may be granted for deeds of variation by approved superannuation funds that incorporate LIC's annuity plan returning corpus with a group pension terminal bonus, provided the Commissioner is satisfied that the conditions in Part B of the Fourth Schedule and the relevant Income-tax Rules, including rule 89, are complied with.
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Approval of deed of variation: Commissioners may permit incorporation of LIC annuity plan if statutory conditions are satisfied.
Commissioner approval may be granted for deeds of variation by approved superannuation funds that incorporate LIC's annuity plan returning corpus with a group pension terminal bonus, provided the Commissioner is satisfied that the conditions in Part B of the Fourth Schedule and the relevant Income-tax Rules, including rule 89, are complied with.
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