Rule 79 - Withdrawal of recognition - Income-tax Rules, 1962

1 [Withdrawal of recognition. 79. (1) The Chief Commissioner or Commissioner may withdraw recognition granted to a provident fund if it does not fulfill the conditions specified in part A of the Fourth Schedule to the Income-tax Act, 1961 or subsequent to grant of recognition under the Income-tax Act, 1961 the exemption granted under section 17 of the Employees Provident Fund and Miscellaneous Provisions Act, 1952 is withdrawn under sub-section (4) of section 17 of the said Act. (2) Before withdrawing recognition, the Chief Commissioner or Commissioner shall give an opportunity to the employer and the trustees of the fund to show cause why recognition should not be withdrawn. ] *************** NOTES:- 1. Substituted by the Income-tax (First Amendment) Rules, 2007 dated 15-01-2007