Trustees of Central Provident Fund as well as trustees of provident funds referred to in section 80C are no longer accountable persons in respect of deaths occurring on or after 16-3-1985 consequent on discontinuance of estate duty levy - Income Tax - 443/1985

Section 53 - Duties and liabilities of accountable persons Trustees of Central Provident Fund as well as trustees of provident funds referred to in section 80C are no longer accountable persons in respect of deaths occurring on or after 16-3-1985 consequent on discontinuance of estate duty levy Circular No.443 Dated 13/12/1985 1. The levy of estate duty has ceased to apply in relation to properties passing on deaths occurring on or after 16-3-1985, by virtue of section 5C inserted by the Estate Duty (Amendment) Act, 1985. In view of this the trustees of Central Provident Fund as well as trustees of provident funds referred to in section 80C of the Income-tax Act are not accountable persons in terms of section 53 in respect of deaths occurring on or after 16-3-1985. 2. This may be brought to the notice of all trustees of provident funds recognised under section 80C of the said Act. Circular : No. 443 [ F. No. 256/93/85-ED ], dated 13/17-12-1985.