Hello,
One of my client (Pvt. ltd. co.) has paid in Group Gratuity Fund. Now, company has applied for surrender of the above policy to LIC but LIC department has asked my client to take permission from Commissioner of Income Tax. When I went to Commissioners officer they don't know under which section/ Rule they can give us permission letter. They even said if there is no rule or section then provide us circular for the same.
If anyone know about this then let me know.
CAclubindia
