অনুমোদনের পদ্ধতি-

(1) For the purpose of obtaining approval for a gratuity fund, an application must be submitted in the prescribed manner by one of the trustees of the concerned fund to the Commissioner under whose jurisdiction the taxpayer’s tax is assessed.

(2) If any change is made to the rules, constitution, objectives, or conditions of the fund after the date of submission of the application for approval, the applicant shall immediately inform the Commissioner in writing about such amendment.

(3) The Commissioner shall consider the application, relevant records, and other documents available to him and may request additional documents in writing from the trustee.

(4) While considering the application, the Commissioner may, if necessary, direct the applicant to appear before him.

(5) The Commissioner shall, within 180 (one hundred and eighty) days from the date of receipt of the application, provide his decision on the application through a written order, and in case of his failure to do so, the fund shall be deemed to have been approved.

(6) If approval is granted, the order shall include the following matters—

(a) The conditions and eligibility criteria for approval;

(b) The date from which the approval shall take effect;

(c) The duration of the approval, which shall not be less than 10 (ten) years.

(7) In cases where the effective date of approval is not specified, it shall take effect from the date on which the approval order is issued.

(8) If approval is granted for a specific period, the trustee must apply for an extension of the said period before its expiry.

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