Rule 309 of Income Tax Rules - Beneficiary not to have any interest in insurance and employer not to have any interest in moneys of fund.

Last Updated: 01-04-2026

309. Beneficiary not to have any interest in insurance and employer not to have any interest in moneys of fund. ^{^[i]}

(1) No beneficiary shall have any interest in any insurance policy taken out by the trustees under the rules of a fund and he shall be entitled only to an annuity from the fund.

(2) No money belonging to the fund shall be receivable by the employer under any circumstances nor shall the employer have any lien or charge on the fund.

[i] This Rule was inserted by N No. 22/2026 dt. 20-03-2026 wef 01-04-2026.

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Rule 309 of Income Tax Rules - Beneficiary not to have any interest in insurance and employer not to have any interest in moneys of fund.