India - Income Tax Act 2010 - Saarc

R. 9 I.T. ACT, 1961 1.996Officer mentioned in sub-rule (1), and in default of such communication anyapproval given shall, unless the 71 [Chief Commissioner or Commissioner] otherwiseorders, be deemed to have been withdrawn from the date on which thealteration took effect.Contributions by employer when deemed to be income of employer.5. Where any contributions by an employer (including the interest thereon, ifany) are repaid to the employer, the amount so repaid shall be deemed for thepurpose of income-tax 72 [***] to be the income of the employer of the previousyear in which it is so repaid.Deduction of tax on contributions paid to an employee.736. Where any contributions made by an employer, including interest oncontributions, if any, are paid to an employee during his lifetime 74 [incircumstances other than those referred to in clause (13) of section 10], 75 [tax]on the amounts so paid shall be deducted at the average rate of 75 [tax] at whichthe employee was liable to 75 [tax] during the preceding three years or during theperiod, if less than three years, when he was a member of the fund, and shall bepaid by the trustees to the credit of the Central Government within theprescribed time and in such manner as the Board may direct.Deduction from pay of and contributions on behalf of employee to be includedin return.7. Where an employer deducts from the emoluments paid to an employee orpays on his behalf any contributions of that employee to an approvedsuperannuation fund, he shall include all such deductions or payments in thereturn which he is required to furnish under 76 [***] section 206.Appeals.8. (1) An employer objecting to an order of the 77 [Chief Commissioner orCommissioner] refusing to accord approval to a superannuation fund or anorder withdrawing such approval may appeal, within sixty days of such order, tothe Board.(2) The appeal shall be in such form and shall be verified in such manner and shallbe subject to the payment of such fee as may be prescribed. 78Liability of trustees on cessation of approval.9. If a fund or a part of a fund for any reason ceases to be an approvedsuperannuation fund, the trustees of the fund shall nevertheless remain liableto tax on any sum paid on account of returned contributions (including interest71. Substituted for “Commissioner” by the Direct Tax Laws (Amendment) Act, 1987, w.e.f.1-4-1988.72. Words “and super-tax” omitted by the Finance Act, 1965, w.e.f. 1-4-1965.73. See rule 33 and Form No. 22.74. Inserted by the Finance Act, 1965, w.e.f. 1-4-1965.75. Substituted for “income-tax and super-tax”, ibid.76. Words “sub-section (1) of” omitted by the Finance Act, 1987, w.e.f. 1-6-1987.77. Substituted for “Commissioner” by the Direct Tax Laws (Amendment) Act, 1987, w.e.f.1-4-1988.78. See rule 97 and Form No. 43.