Amendment in Rule 17CB of the Income tax Rules, 1962

Amendment in Rule 17CB of the Income tax Rules, 1962

G.S.R. 647(E).—In exercise of the powers conferred by sub-section (2) of section 115TD read with section 295, 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. Short title and commencement.—
   (1) These rules may be called the Income-tax (Twenty Eighth Amendment) Rules, 2022.
   (2) They shall come into force from the date of its publication in the Official Gazette.
   
2. In the Income-tax Rules, 1962, in rule 17CB,—
   
   (i) for the words “trust or institution” wherever they occur, the words “specified person” shall be substituted;
   
   (ii) in Explanation, after clause (h), the following clause shall be inserted, namely:-
   ‘(ha) “specified person” shall have the same meaning as assigned to it in clause (iia) of the Explanation to section 115TD;’.

Note: The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section-3, Subsection (ii) vide number S.O. 969 (E) dated the 26th March, 1962 and last amended vide notification
number G.S.R 636(E) dated 18th August, 2022.

Notification

Also Read: New Rule 40G inserted for Refund claim under section 239A of the Income-tax Act

Read More on Income-tax, CBDT