The Income-tax (Eleventh Amendment) Rules, 2023.

The Income-tax (Eleventh Amendment) Rules, 2023.

G.S.R. 457(E).—In exercise of the powers conferred by clauses (i), (ii), (iii) and (iv) of the first proviso to clause (23C) of section 10, ninth proviso to clause (23C) of section 10, clause (b) of the tenth proviso to clause (23C) of section 10, sub-clauses (i) (ii), (iii), (iv), (v) and (vi) of clause (ac) of sub-section (1) of section 12A, sub-clause (ii) of clause (b) of sub-section (1) of section 12A, sub-section (3) of section 12AB, clauses (i), (ii), (iii) and (iv) of the first proviso to sub-section (5) of section 80G, third proviso to sub-section (5) of section 80G 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 (Eleventh Amendment) Rules, 2023.
   (2) Save as otherwise provided in these rules, they shall come into force from the 1st day of October, 2023.
   
2. In the Income-tax Rules, 1962 (hereafter referred to as the principal rules),—
   
   (a) in rule 2C,-
   
   (i) in sub-rule (1), –
   (I) in clause (i), for the words, brackets and figure “clause (i) or”, the words, brackets, figure and letter “clause (i) or sub-clause (A) of ” shall be substituted;
   (II) in clause (ii), for the word, brackets and figures “clause (iii)”, the words, bracket, figures and letter “clause (iii) or sub-clause (B) of clause (iv)” shall be substituted;
   
   (ii) in sub-rule (7), for the word and figures “section 10”, the words and figures “section 10 as it stood immediately before its amendment by the Finance Act, 2023,” shall be substituted;
   
   (b) in rule 11AA,-
   
   (i) in sub-rule (1),-
   (I) in clause (a), for the words, brackets and figure “clause (i) or”, the words, brackets, figure and letter “clause (i) or sub-clause (A) of” shall be substituted;
   (II) for clause (b), the following sub-clause shall be substituted, namely:-
   “(b) Form No. 10AB in case of application under clause (ii) or clause (iii) or sub-clause (B) of clause (iv) of the first proviso to sub – section (5) of section 80G to the Principal Commissioner or Commissioner authorised under the said proviso.” ;
   
   (ii) for sub-rule (7), the following sub-rule shall be substituted, namely:-
   “(7) In case of an application made under,-
   (i) clause (iv) of the first proviso to sub-section (5) of section 80G as it stood immediately before its amendment vide the Finance Act, 2023,; or
   (ii) sub-clause (A) of clause (iv) of first proviso to sub-section (5) of section 80G, the provisional approval shall be effective from the assessment year relevant to the previous year in which such application is made.”;
   
   (c) in rule 17A,-
   
   (i) in sub-rule (1),-
   (I) in clause (i), for the words, brackets and figure “sub-clause (i) or”, the words, brackets, figure and letter “sub-clause (i) or item (A) of sub-clause” shall be substituted;
   (II) in clause (ii), for the word, brackets and figure “or (v)”, the words, brackets, figures and letter “or (v) or item (B) of sub-clause (vi)” shall be substituted;
   
   (ii) in sub-rule (7), for the word, figure and letter “section 12A” the words, figures and letter “section 12A as it stood immediately before its amendment vide the Finance Act, 2023,” shall be substituted.

Read More

Read More on Income-tax, CBDT