Inspection of accounts of approved superannuation and gratuity funds. - Income Tax - 1549/CBDT

INSTRUCTION NO. 1549/CBDT Dated: January 13, 1984 Attention is invited to the Board's instructions No.1357 (F.No.215/11/78-ITA.II), dated 17th September, 1980 wherein detailed procedure was laid down for inspection of accounts of the recognised provident funds so as to keep a watch that the rules have not been violated. The Board desire that the accounts of approved superannuation funds and approved gratuity funds should also be similarly checked and the same procedure, as laid down in instructions No.1357, be followed. As regards the questionnaire to be issued to the trustees, the same have been devised both for superannuation funds as well as for gratuity funds and are enclosed as Annexures 'A' and 'B' respectively. 2. As in the case of recognised provident funds, a report on the action taken for inspection of superannuation funds and gratuity funds in the prescribed proforma (enclosed with instructions No.1357) for every completed financial year may be sent to the D.I. (Income-tax) by 15th of May every year who will monitor them and will report to the Board.