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[Cites 0, Cited by 0] [Section 89] [Entire Act]

Union of India - Subsection

Section 89(ii) in Income Tax Rules, 1962

(ii)accumulate the contributions in respect of each beneficiary and purchase an annuity from the said Life Insurance Corporation of India or any other insurer at the time of the retirement or death of each employee or on his becoming incapacitated prior to retirement :