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[Cites 0, Cited by 0] [Section 69] [Entire Act]

Union of India - Subsection

Section 69(1A) in Income Tax Rules, 1962

(1A)The withdrawal for the purposes specified in clause (aa) and clause (c) of sub-rule (1) of rule 68, by an employee, whose pay does not exceed rupees five thousand per month, shall be subject to the following conditions, namely :-
(a)the amount of withdrawal shall not exceed one-half of the employee's contributions to the fund with interest thereon;
(b)the employee shall have completed seven years of service;
(c)the amount of the employee's contributions to the fund with interest thereon is not less than rupees one thousand.