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TMI BlogIncome-tax Welfare Fund Rules, 2007X X X X Extracts X X X X X X X X Extracts X X X X ..... called the Income-tax Welfare Fund Rules, 2007. (2) The benefits of the Income-tax Welfare Fund (hereinafter called the "Fund") shall extend to all officers and staff (hereinafter collectively called 'officials') of the Income-tax Department wherever working. Purposes of the Fund. 2. The underlying purposes of the Fund shall be as under:- (a) Promotion of welfare, recreation and other outdoor activities for the officials, including a sense of adventure. The welfare activities shall include setting up of recreation clubs, libraries, scholarships for children of officials, opening of creches, providing vocational training to spouses of officials, arrangements of subsidized transport facility for the officials, providing more ameni ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , etc. Sources of Fund. 3(1) The corpus of the fund shall be Rs.100 crores (Rupees One hundred crores) which shall be contributed by the Government. (2) Accretions to the Welfare Fund shall be made from contributions as under:- (i) 10% of the excess of amount received after auction over consideration paid by the Government on sale of properties acquired by the Government under Chapter XX-C of the Income-tax Act (pre-emptive purchase of property) or under any other provision of similar nature that may be introduced under the Income-tax Act. (ii) 10% of the reward sanctioned to the officers and staff of the Income-tax Department under any established reward scheme. (iii) any other mode as may be prescribed. Disbursable Fund. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... DGsIT level. joint Secretary (Administration), CBDT shall sponsor the beneficiaries working in CBDT or in any other Ministry/organization, but belonging to the Income-tax department. (2) Each proposal received from the CCsIT/DGsIT/Joint Secretary (Administration), CBDT/beneficiary shall be considered by the Executive Committee for making appropriate recommendation to the Governing Body. Sanctions and disbursements. (1) The approval and financial sanction of the Governing Body shall be conveyed to the CCsIT/DGsIT. (2) The decision of the Governing Body in this matter will be final. (3) DIT(DOMS), CBDT will disburse the funds as approved by the Governing Body. Accounting Procedure. 7. The Chief Controller of Accounts, CBDT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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