Approved gratuity funds - exemption u/s 10(25)

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....August 1, 1973 Section(s) Referred: 10(25) Statute: Income - Tax Act, 1961 It is stated that it is only by an amendment made by Finance Act, 1973 in section 10(25) that income of approved Gra....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tion Funds is exempt u/s 10(25) of the Income-tax Act, 1961. This was not in conformity with the Law as it then stood. 2. Board desires that all the case of gratuity funds may be reviewed upto asse....