Para 12.25 — MSO

12.25 The receipt of Policies, in cases where first withdrawals are authorised on acceptance of a proposal by Insurance Company, and of Premium Receipts in the case of gazetted subscribers, should be watched by the Accounts Officer through a suitable Register. All premium receipts of gazetted subscribers should be endorsed by the Accounts Officer with the words "No abatement of India Income-tax is admissible" with a view to safeguard Government from double exemption from Income-tax. In respect of non-gazetted subscribers and those gazetted subscribers who draw their pay from the department, the Head of Office should at the time of withdrawal of premium by a subscriber, furnish a certificate to the effect that he is satisfied that the amount previously withdrawn on the same account by the subscriber has been utilised for the purpose for which it was intended and that the necessary premium receipt has been duly enfaced by him.

NOTE:- Under the G.P.F. (Central Services) Rules 1960, no further policies are to be accepted for being financed from the Provident Fund after the date of publication of these rules viz. 17-12- 1960. Similar orders might have been issued by other States also.