Gives the ring back to, while about it (6)
I believe the answer is:
allots
'gives' is the definition.
(allotting is a kind of giving)
'the ring back to while about it' is the wordplay.
'the ring' becomes 'toll' (I've seen this before**).
'back' says the letters should be written in reverse.
'to while' becomes 'as'.
'about it' indicates putting letters inside.
'toll' written backwards gives 'llot'.
'llot' placed into 'as' is 'ALLOTS'.
(Other definitions for allots that I've seen before include "Dispenses or distributes" , "Distributes, gives as share" , "Allows to have" , "Gives, apportions" , "Apportions or assigns" .)