Exemption to funds established for welfare of employees or their dependants u/s 10(23AAA) - S.O.672(E) - Income Tax

Exemption to funds established for welfare of employees or their dependants u/s 10(23AAA) NOTIFICATION NO. S.O.672 ( E ) DATED 27-7-1995 In exercise of the powers conferred by clause (23AAA) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby notifies the following purposes for the purpose of the said clause, namely :-- (1) cash benefits to a member of the fund,-- ( a ) on superannuation, or ( b ) in the event of his illness or illness of his spouse or dependent children, or ( c ) to meet the cost of education of his dependent children ; or 1 [ (d) to meet the cost of annual medical tests or medical checkups of the member, his spouse and dependent children. ] (2) cash benefits to the dependants of a member of the fund in the event of the death of such member. (Sd.) Aniruddha Kumar, Under Secretary to the Government of India. [No. 9830/F. No. 142/16/95-TPL] ********* Notes 1. Inserted vide NOTIFICATION NO.33/2011 DATED 3-6-2011