Income Tax Act, 2025
Section 8: Subs. by s. 66, ibid., for “income-tax and super-tax” (w.e.f. 11965).
8. Subs. by s. 66, ibid., for “income-tax and super-tax” (w.e.f. 11965).
9. The words, brackets and figure “sub-section (1) of” omitted by Act 11 of 1987 s. 74 (w.e.f. 11987).
861
10. Particulars to be furnished in respect of superannuation funds.—The trustees of an approved
superannuation fund and any employer who contributes to an approved superannuation fund shall, when
required by notice from the 1[Assessing Officer], within such period, not being less than twenty-one days
from the date of the notice, as may be specified in the notice, furnish such return, statement, particulars or
information, as the 1[Assessing Officer] may require.
11. Provisions relating to rules.—(1) In addition to any power conferred by this Part, the Board may
make rules—
(a) prescribing the statements and other information to be submitted along with an application for
approval;
(b) prescribing the returns, statements, particulars, or information which the 1[Assessing Officer]
may require from the trustees of an approved superannuation fund or from the employer;
(c) limiting the ordinary annual contribution and any other contributions to an approved
superannuation fund by an employer ;
2[(cc) regulating the investment or deposit of the moneys of an approved superannuation fund:
Provided that no rule made under this clause shall require the investment of more than fifty per
cent of the moneys of such fund in Government securities as defined in section 2 of the Public Debt
Act, 1944 (18 of 1944);]
(d) providing for the assessment by way of penalty of any consideration received by an employee
for an assignment of, or creation of a charge upon, his beneficial interest in an approved
superannuation fund;
(e) determining the extent to, and the manner in, which exemption from payment of 3[tax] may be
granted in respect of any payment made from a superannuation fund from which approval has been
withdrawn;
(f) providing for the withdrawal of approval in the case of a fund which ceases to satisfy the
requirements of this Part or of the rules made thereunder; and
(g) generally, to carry out the purposes of this Part and to secure such further control over the
approval of the superannuation funds and the administration of approved superannuation funds as it
may deem requisite.
(2) All rules made under this Part shall be subject to the provisions of section 296.
PART C
APPROVED GRATUITY FUND
4[See sections 2(5), 10(25)(iv), 17(1)(iii), 36(1)(v)]
1. Definitions.—In this Part, unless the context otherwise requires “employer”, “employee”,
“contribution” and “salary” have, in relation to gratuity funds, the meanings assigned to those expressions
in rule 2 of Part A in relation to provident funds.
of” omitted by Act 11 of 1987 s. 74 (w.e.f. 11987).
861
10. Particulars to be furnished in respect of superannuation funds.—The trustees of an approved
superannuation fund and any employer who contributes to an approved superannuation fund shall, when
required by notice from the 1[Assessing Officer], within such period, not being less than twenty-one days
from the date of the notice, as may be specified in the notice, furnish such return, statement, particulars or
information, as the 1[Assessing Officer] may require.
11. Provisions relating to rules.—
In addition to any power conferred by this Part, the Board may
make rules—
prescribing the statements and other information to be submitted along with an application for
approval;
prescribing the returns, statements, particulars, or information which the 1[Assessing Officer]
may require from the trustees of an approved superannuation fund or from the employer;
limiting the ordinary annual contribution and any other contributions to an approved
superannuation fund by an employer ;
2[
regulating the investment or deposit of the moneys of an approved superannuation fund:
Provided that no rule made under this clause shall require the investment of more than fifty per
cent of the moneys of such fund in Government securities as defined in section 2 of the Public Debt
Act, 1944 (18 of 1944);]
providing for the assessment by way of penalty of any consideration received by an employee
for an assignment of, or creation of a charge upon, his beneficial interest in an approved
superannuation fund;
determining the extent to, and the manner in, which exemption from payment of 3[tax] may be
granted in respect of any payment made from a superannuation fund from which approval has been
withdrawn;
providing for the withdrawal of approval in the case of a fund which ceases to satisfy the
requirements of this Part or of the rules made thereunder; and
generally, to carry out the purposes of this Part and to secure such further control over the
approval of the superannuation funds and the administration of approved superannuation funds as it
may deem requisite.
All rules made under this Part shall be subject to the provisions of section 296.
PART C
APPROVED GRATUITY FUND
4[See sections 2