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The Central Board of Direct Taxes issues the Income-tax (19th Amendment) Rules, 2017 to amend rule 29B and Form No. 15C of the Income-tax Rules, 1962. The rules modify references regarding interest on securities in rule 29B and Form No. 15C to exclude interest payable on securities referred to in the proviso to section 193. The rules come into force on the date of publication in the Official Gazette.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 4th July, 2017 INCOME-TAX
G.S.R. 826(E).—In exercise of the powers conferred by section 295 read with section 195 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:—
In the Income-tax Rules, 1962 (hereafter referred to as the Principal rules), in rule 29B, in sub-rule (1), clause (i), for the words “interest on securities” the words and brackets and figures “interest on securities (other than interest payable on securities referred to in proviso to section 193)” shall be substituted.
In the principal rules, in Form No. 15C, for the words “interest on securities” the words, brackets and figures “interest on securities (other than interest payable on securities referred to in the proviso to section 193)” shall be substituted.
[Notification No. 59/2017/F. No. 370 142/8/2017-TPL] LAKSHMI NARAYANAN, Under Secy. (Tax Policy and Legislation)
Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) vide notification number S.O. 969(E), dated the 26th March, 1962 and last amended vide notification number G.S.R. 821(E), dated the 03.07.2017.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054. RAKOSH SUKUL Digitally signed by RAKESH SUKUL Date: 2017.07.05 22:58:19 +05'30'
