Income-tax (Twenty-Fourth Amendment) Rules, 2025
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961, the Central Board of Direct Taxes (CBDT) hereby makes the following rules further amending the Income-tax Rules, 1962:
- Short Title and Commencement
(1) These rules may be called the Income-tax (Twenty-Fourth Amendment) Rules, 2025.
(2) They shall come into force on the date of their publication in the Official Gazette. - Amendment to Rule 21AIA
In Rule 21AIA of the Income-tax Rules, 1962—
(a) Sub-rule (4) shall be omitted;
(b) The Explanation shall be substituted as follows:
“Explanation.—For the purposes of this rule, the term ‘specified fund’ shall have the same meaning as assigned to it in sub-clause (i) of clause (c) of the Explanation to section 10(4D) of the Income-tax Act, 1961.”
✅ In short: This amendment removes sub-rule (4) and updates the definition of “specified fund” to directly match the wording in section 10(4D).
Note: The Income-tax Rules, 1962 was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii) vide number S.O. 969 (E), dated the 26th March, 1962 and was last amended vide notification number G.S.R. 564(E), dated the 20th August, 2025.
Also Read:
- Recommendations of the 55th Meeting of the GST Council
- Changes in GST and Income Tax during the Financial Year 2024-25
- TDS and TCS provisions applicable from April 1, 2025
- Rationalizing TDS: A Deep Dive into Budget 2025’s Proposals
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