Superannuation fund is exempt from tax u/s. 10(25). - Income Tax - 249/CBDT

INSTRUCTION NO. 249/CBDT Dated: December 18, 1970 The board recently came across an instance where the income received by the trustees of an approved Gratuity fund was erroneously treated as exempt from tax. They desire it to be impressed on the ITOs working in your charge that though the income received by the trustees on behalf of a recognised provident fund or an approved superannuation fund is exempt from tax u/s. 10(25) of the I.T.Act there is no similar exemption in respect of the income received by the trustees on behalf of an approved Gratuity fund.