Rule-98 (of Income Tax Rules, 1962), Definitions
Rule-98 (of Income Tax Rules, 1962), Definitions
Definitions.
In this Part—
(a) "beneficiary" means a person referred to in clause (b) of rule 3 (of Income Tax Rules, 1962) of Part C of the Fourth Schedule for whom provision of gratuity is made;
(b) "fund" means a "gratuity fund"; and
(c) "trust" means the trust under which the fund is established and "trustee" means a trustee thereof.
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