Liability of the trustees u/s. 53(1)(b) of the Estate Duty Act-Payment to be made to legal heirs/nominees of the deceased members of provident funds, etc.-Clarification regarding

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....mbers of provident funds, etc.-Clarification regarding Circular 263 Dated 29/11/1979 To             All Controllers of Estate Duty,             All Commissioners of Income-tax. Sir, Subject:  Liability of the trustees u/s. 53(1)(b) of the Estate Duty Act-Payment t....

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....d No. 1 of 1967, in view whereof if the trustees make payment to the extent of Rs. 5,000 without the production of clearance certificate, the duty payable, if any, is first collected from the other property left behind by the deceased subscriber. (ii) The Board considered and approved, in 1975, a scheme framed by the Central Board of Trustees of the Central Provident Fund and forwarded by the M....

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....ility would be met from the Reserve and Forefeiture Account of the Fund and realised subsequently by the trustees, wherever possible, from the payees on the strength of the indemnity bond furnished by them. (iii) the Ministry of Labour requested the Board in 1976 to increase the limit of Rs. 10,000 to Rs. 25,000. The Board approved of the said proposal. The payment of provident fund accumulatio....