Provident fund exempt under section 17(1) of the Employees' Provident Fund Act, 1952 - Whether recognition by the Commissioner necessary before it can enjoy benefits of recognised provident fund

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the Employees' Provident Fund Act, 1952 - Whether recognition by the Commissioner necessary before it can enjoy benefits of recognised provident fund 1. Reference is invited to Board's Circular F. No. 44/14/64-ITJ, dated 22-3-1965 [ Annex ] on the above subject. 2. Iam directed to say that the Board has re-examined the contents of its circular referred to above. According to section 2( 3 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... efore they can be covered by the definition in section 2(38). 3. When a fund is exempted under section 17 of the Employees' Provident Fund and Family Pension Fund Act, 1952, it is implicit that it is not established under the Employees' Provident Fund Scheme, 1952. It has, therefore, to be recognised by the Commissioner under the relevant provisions of the Income-tax Act before it can enj .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the provisions of the Employees' Provident Fund Scheme) which were or are exempt under the provisions of section 17(1) of the Employees' Provident Fund Act, 1952, and/or under Para 79 of the Employees' Provident Fund Scheme, 1952, will be covered by the definition of recognised provident fund under section 2( 38 ). Such funds are not established under either the Employees' Provident Fund Act or un .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X