RULE 303 INCOME-TAX RULES 2026
Investment of fund moneys.
303. (1) All moneys contributed to the fund, or received or accrued by way of interest, or otherwise, may be-
| (a) | deposited in a Post Office Savings Bank Account in India; or | |
| (b) | deposited in a current account or a savings account with any scheduled bank; or | |
| (c) | utilised in accordance with rule 307 for making payments under a scheme of insurance or for purchase of annuities referred to in that rule; |
(2) Any funds not deposited or used as mentioned in sub-rule (1) shall be invested in accordance with the notification of the Ministry of Finance, (Department of Financial Services) number F. No. 11/14/2013-PR, dated the 2nd March, 2015 published in the Gazette of India, Extraordinary, Part I, Section 1 as amended from time to time.
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