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[Cites 0, Cited by 2] [Entire Act]

Union of India - Section

Section 103 in Income Tax Rules, 1962

103. Ordinary annual contributions.

- The ordinary annual contribution by the employer to a fund shall be made on a reasonable basis as may be approved by the Chief Commissioner or Commissioner having regard to the length of service of each employee concerned so, however, that such contribution shall not exceed 81/3 per cent of the salary of each employee during each year.