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The Central Board of Direct Taxes amends the Income-tax Rules, 1962, by updating rule 17CB. The rules substitute the words trust or institution with the words specified person. The rules add a definition for specified person in the Explanation. The specified person term takes the meaning from the Explanation to section 115TD. 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 22nd August, 2022 INCOME-TAX
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:-
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.
In the Income-tax Rules, 1962, in rule 17CB,—
[Notification No. 101/2022/F.No. 370142/37/2022-TPL] NEHA SAHAY, Under Secy.
Note: The principal rules were 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 last amended vide notification number G.S.R 636(E) dated 18th August, 2022.
