RULE 316 INCOME-TAX RULES 2026
Definitions for purposes of rules 317 to 329.
316. For the purposes of rules 317 to 329, the expressions-
| (a) | “approving authority” means the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner; | |
| (b) | “beneficiary” means a person referred to in paragraph 3(b) of Part B of Schedule XI to the Act for whom provision of gratuity is made; | |
| (c) | “fund” means a “gratuity fund”; and | |
| (d) | “trust” means the trust under which the fund is established and the expression “trustee” means a trustee thereof. |