Notification: 69 Date of Issue : 22/3/2002

Notification S.O. No.... (E), dated 22nd March, 2002.

What this is

Notification: 69 Date of Issue : 22/3/2002 was published on 22 March 2002. Its subject is Notification S.O. No.... (E), dated 22nd March, 2002.

This amends the Income-tax Rules. What it changes is the Rules, not the Act — and a rule can never take away what the section gives.

What it does

Under section 295 read with clauses (12) and (25) of section 10 of the Income-tax Act, 1961, the Central Board of Direct Taxes makes the Income-tax (Fourth Amendment) Rules, 2002, amending rules 89 and 101 of the Income-tax Rules, 1962. In sub-rule (i) of rule 89, after the words and figures "under the Life Insurance Corporation Act, 1956 (31 of 1956)", the words "or any other insurer as defined in clause (28BB) of section 2 of the Income-tax Act, 1961" are inserted, and in sub-rule (ii) of that rule the words "or any other insurer" are inserted after "Life Insurance Corporation of India". The same insertion of "or any other insurer as defined in clause (28BB) of section 2 of the Income-tax Act, 1961" is made in rule 101. The effect is to open to insurers other than the Life Insurance Corporation of India the arrangements which those rules previously confined to the Corporation.

Who it reaches

trustees of approved gratuity and superannuation funds
insurers other than the Life Insurance Corporation of India within clause (28BB) of section 2
employers maintaining such funds for their employees

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.2	s.2, s.346, s.355
s.10	s.11, s.19
s.295	s.533

The instrument, as the Board published it

The words below are the department’s own, reproduced from its published text. Where the department’s copy carried a publisher’s notes after the instrument, those are not reproduced.

Notification No : 69

Date of Issue : 22/3/2002

Notification S.O. No.... (E), dated 22nd March, 2002.

In exercise of the powers conferred by section 295 read with clause (12) and clause (25) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:--

1. (1) These rules may be called the Income-tax (Fourth Amendment) Rules, 2002.

(2) They shall come into force on the 1st day of April, 2002.

2. In the Income-tax Rules, 1962,--

(i) in rule 89,--

(a) in sub-rule (i), after the words, figures and brackets "under the Life Insurance Corporation Act, 1956 (31 of 1956)", insert the words, brackets, figures and letters "or any other insurer as defined in clause (28BB) of section 2 of the Income-tax Act, 1961";

(b) in sub-rule (ii), after the words, "Life Insurance Corporation of India", insert the words 'or any other insurer";

(ii) in rule 101, after the words, figures and brackets "under the Life Insurance Corporation Act, 1956 (31 of 1956)", insert the words, brackets, figures and letters "or any other insurer as defined in clause (28BB) of section 2 of the Income-tax Act, 1961".

(Sd.) Dr. Dheeraj Bhatnagar,

Director.

[Notification No. 69/2002/F. No. 142/22/2001-TPL]

What it changes

The rule numbers are the 1962 Rules’ own, as the notification names them. The right-hand column is the department’s own mapping into the Income-tax Rules, 2026, which renumbered nearly everything.

Rule of the 1962 Rules	Now, in the 2026 Rules
Rule 89	rule 307
Rule 101	rule 318

From when

1 April 2002.

What to watch

The rules come into force on 1 April 2002.
The insurer must answer the definition in clause (28BB) of section 2 of the Income-tax Act, 1961.
The change is made in both sub-rules of rule 89 and in rule 101, so the widened choice runs through those provisions.

Where you meet it

In the arrangements a fund makes with an insurer, and in an application for or a review of approval of a gratuity or superannuation fund.

What it names

Rules it names. Rule 101, 89 of the Income-tax Rules, 1962. The 1962 Rules were replaced by the Income-tax Rules, 2026, which renumbered nearly everything: a rule number quoted here almost never means the same rule today.

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Notification No. 89/2026-CBDT [F. No. 164/1/2026-ITA-1] / SO 3936(E) — Ministry of Finance 17 July 2026
Notification No. 75/2026 [F. No. 275/18/2026-IT(B)] / SO 3610(E) : TDS Exemption on Ship Lease Payments to IFSC Units — 4 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 3 July 2026
Notification No. 74/2026 [F. No. 275/16/2026-IT(B)] / SO 3609(E) : TDS Exemption on Aircraft Lease Payments to IFSC Units — 4 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 3 July 2026
Notification No. 65/2025 [F. No. 300196/4/2019-ITA-I] / S.O. 2739(E) — Ministry of Finance 19 June 2025
Notification No. 56 /2025 [F.No.300164/4/2024-ITA-1] / SO 2576(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)] 12 June 2025
Notification No. 52/2025 [F. No. 300164/5/2024-ITA-1] / SO 2447(E) — Ministry of Finance 30 May 2025

← Notification: 71 Date of Issue : 2/4/2002 · Notification: 68 Date of Issue : 21/3/2002 →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.