Benevolent Scheme

The scheme known as ‘INCOME TAX BAR ASSOCIATION MEMBERS BENEVOLENT SCHEME’. The objective of the scheme is to provide immediate financial assistance to the members of the family in event of death.

 

Only Regular Members other than nominal member (below the age of 50 years) of the Income Tax Bar Association is eligible to become a member of the scheme. But those member who have already become member of the scheme prior to 01/04/2013 shall be eligible to continue in this scheme and eligible for all the benefits under this scheme.

 

As per the Resolution passed in the Extraordinary General Meeting held on 22/03/2013, every member of this Scheme shall contribute Rs. 200/-(Rupees Two Hundred Only)towards the death of a member of this scheme to give immediate financial help to the affected family, for providing immediate financial help to the affected family. Every Member of this Scheme shall contribute Rs. 1000/- (Rupees One Thousand Only) in advance which will cover five cases of death of the scheme members. After providing financial help to four such affected families of this scheme further advance contribution of Rs. 1000/- (Rupees One Thousand Only)shall be collected from the members of this scheme. If any member of this scheme wishes to pay advance contribution in lump sum he/ she can do so by making payment of Rs. 5000/- at a time or more in the multiples of Rs. 1000/- as he / she may desire.

 

On Death of a member, his / her nominee shall be paid of Rs. 1,75,000/- (Rupees One Lakh Seventy Five Thousand Only) within seven days after the receipt of the death certificate of the deceased member along with an application from nominee ofthe member. If the deceased family members are not aware about the scheme and if any committee Member/ Member of the scheme brings to the notice of the committee then after verification of the fact and after obtaining necessary application along with death certificate, association shall disburse the amount of the affected family.

 

The voluntary contribution can be made by way of cheque/demand draft payable in favour of  ‘The Income Tax Bar Association’s A/c Benevolent Scheme, Ahmedabad’ can be sent to office. Now Member may opt e-payment facilities after login to web portal of Association, www.incometaxbar.org Life members are allotted a separate life membership number of the fund.