Exemption from investment limit in relief bonds extends to retirement benefits, enabling immediate higher investment upon retirement. Notification exempts investments in 8% Relief Bonds, 2002 from the Rs.2 lakh annual limit where funds originate from retirement/terminal benefits (provident fund balance, gratuity, commuted pension, leave encashment, government insurance savings). Such investments must be made within three months of receipt of benefits; reinvestment of matured bond proceeds by already retired persons must be made within three months of this Notification or bond maturity. Employer certification is required for initial investments and an affidavit for reinvestments. The exemption is additional to the ordinary annual Rs.2 lakh entitlement and is effective from the Notification date.
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.
Exemption from investment limit in relief bonds extends to retirement benefits, enabling immediate higher investment upon retirement.
Notification exempts investments in 8% Relief Bonds, 2002 from the Rs.2 lakh annual limit where funds originate from retirement/terminal benefits (provident fund balance, gratuity, commuted pension, leave encashment, government insurance savings). Such investments must be made within three months of receipt of benefits; reinvestment of matured bond proceeds by already retired persons must be made within three months of this Notification or bond maturity. Employer certification is required for initial investments and an affidavit for reinvestments. The exemption is additional to the ordinary annual Rs.2 lakh entitlement and is effective from the Notification date.
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