Income Tax Law
Income-tax Rules, 2026
Rule 320Admission of directors to a fund
Income-tax Rules, 2026 · G.S.R. 198(E), dated 20-03-2026
Where the employer is a company as defined in section 2(20) of the Companies Act, 2013 (18 of 2013), a director of the company may be admitted to the benefits of the fund only if he is a whole time bona fide employee of the company and does not beneficially own shares in the company carrying more than 5% of the total voting power.
Referenced by
Rule 316 Definitions for purposes of rules 317 to 329