FORM NO. 9 for Application for Grant of Approval to A Fund under Section 10(23AAA) Of the Income-Tax Act, 1961. FORM NO. 9 is relevant for purpose of claiming exemption under section 10(23AAA) by a fund established for notified purpose for the welfare of employees or their dependents and such members of the fund.
(1) The fund shall be formed under a trust and it shall be evidenced by a trust deed.
(2) The contributions to the fund are to be made by the employees by way of periodical subscription.
(3) The application for approval of any fund under clause (23AAA) of section 10 shall be made in Form No. 9 to the Commissioner having jurisdiction over the area or territory in which the accounts are kept and such application shall be accompanied by the documents mentioned therein.
(4) Where the Commissioner is satisfied that all the conditions laid down in clause (23AAA) of section 10 are fulfilled in the case of the fund, he shall record such satisfaction in writing and grant approval to the fund specifying the assessment year or years for which the approval is valid so however that such approval shall, at one time, have effect for such assessment year or years not exceeding three assessment years.
(5) Where the Commissioner is satisfied that one or more of the conditions laid down in clause (23AAA) of section 10 are not fulfilled, he shall reject the application for approval, after recording the reasons for such rejection in writing :
Provided that no order of rejection of an application shall be passed without giving an opportunity of being heard.
FORM NO. 9
[See rule 16C]
Application for grant of approval or continuance thereof to a fund under section 10(23AAA) of the Income-tax Act, 1961
Name of the organisation (in which the members of the fund are employed) in full (in block letters)
Address of the office of the trust/fund where the accounts are kept
Objects of the fund
Names and addresses of trustees/office bearers of the fund
Classes and number of employees admitted to the fund-
(i) in India
(ii) outside India
Ward/Circle where assessed and permanent account number/GIR number
Source of funds/annual accretion
Whether the trust proposes to accumulate funds for achievement of the purposes mentioned in item (3) above and if so the manner thereof
(i) Details of modes in which the funds are invested or deposited, showing the nature, value and income from the investment
(ii) Whether any funds have been invested in the modes other than those specified in section 11(5)
I ________________ certify that the information furnished above is true to the best of my knowledge and belief. I undertake to communicate forthwith any alteration in the terms or in the rules governing the fund made at any time hereafter.