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Rule 98 of Income Tax Rules 1962: Definitions (Gratuity Funds)

Rule 98 : Definitions
(Part XIV : Approved Gratuity Funds)

In this Part—

(a) "beneficiary" means a person referred to in clause (b) of rule 3 of Part C of the Fourth Schedule for whom provision of gratuity is made;

(b) "fund" means a "gratuity fund"; and

(c) "trust" means the trust under which the fund is established and "trustee" means a trustee thereof.

Extra Notes for Readers

Check at Income Tax Dept. official site for latest version of the Rule.

This page was created/last updated on 17th October 2016.

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