https://www.taxtmi.com/acts?id=3931 If an employee assigns or creates a charge on his beneficial interest in an approved gratuity fund, the Assessing Officer must issue notice requiring cancellation of the assignment or charge within two months. Failing cancellation within that period, the consideration received for the assignment or charge is deemed to be income of the employee in the previous year in which the Assessing Officer became aware of the transaction, and it is assessed accordingly. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 21 May 2026 12:33:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3931 If an employee assigns or creates a charge on his beneficial interest in an approved gratuity fund, the Assessing Officer must issue notice requiring cancellation of the assignment or charge within two months. Failing cancellation within that period, the consideration received for the assignment or charge is deemed to be income of the employee in the previous year in which the Assessing Officer became aware of the transaction, and it is assessed accordingly. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3931