e-Gazette20 Jul 2026statutory gazette instrumentPrepared by Complied AI

Amendment of Rule 157 of the Income Tax Rules, 2026

Official title

Amendment of rule 157 of the Income tax Rules, 2026 to align the definition of the specified fund with rule 114AAB of the Income tax Rules, 1962

Official record

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What changed

The Central Board of Direct Taxes amends rule 157 of the Income-tax Rules, 2026. The amendment updates the definition of a specified fund. A specified fund now includes a fund established or incorporated in India as a trust, company, limited liability partnership, or body corporate. This fund must hold a certificate of registration as a Category I or Category II Alternative Investment Fund. It must also operate under the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 or the International Financial Services Centres Authority (Fund Management) Regulations, 2022. The definition also includes funds referred to in Schedule VI of the Income-tax Act, 2025. These rules take effect on the date of their publication in the Official Gazette.

Who is affected
  • Entities operating as a specified fund under the Income-tax Rules, 2026.
Key dates
  • Effective date of the amendment — 20 Jul 2026

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Source details

Source
Gazette of India (e-Gazette)
Type
statutory gazette instrument
Published by source
20 Jul 2026
Document number
G.S.R. 646(E)
Issuing division
Central Board of Direct Taxes
Effective date
20 Jul 2026
Coverage area
gazette

Document text

Prepared for reading; wording retained from the source.

Verify official record

5541 GI/2026 (1) रजिस्ट्री सं. डी.एल.- 33004/99 REGD. No. D. L.-33004/99

xxxGIDHxxx xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण् ड (i) PART II—Section 3—Sub-section (i) प्राजधकार से प्रकाजित PUBLISHED BY AUTHORITY

जित्त मंत्रालय (रािस्ट्ि जिभाग) (केन्द्रीय प्रत्यक्ष कर बोडड) अजधसूचना नई दिल्ली, 21 िुलाई, 2026 (आय-कर)

सा.का.जन. 646(अ).— केन्द्रीय प्रत्यक्ष कर बोडड, आय-कर अजधजनयम, 2025 (2025 का 30) की धारा 262 के साथ पठित धारा 533 द्वारा प्रित्त िजियों का प्रयोग करते हुए, आय-कर जनयम, 2026 का और संिोधन करने के जलए जनम्नजलजखत जनयम बनाता है, अथाडत् :-

  1. (1) इन जनयमों का संजक्षप्त नाम आय-कर (िूसरा संिोधन) जनयम, 2026 है । (2) ये रािपत्र में उनके प्रकािन की तारीख से प्रिृत्त होंगे ।
  2. आयकर जनयम, 2026 के जनयम 157 के उपजनयम (5) में, खंड (ग) के स्ट्थान पर जनम्नजलजखत खंड रखा िाएगा, अथाडत्:– ‘(ग) “जिजनर्िडष्ट जनजध” से— सं. 587] नई दिल्ली, मंगलिार, िुलाई 21, 2026/आषाढ 30, 1948

No. 587] NEW DELHI, TUESDAY, JULY 21, 2026/ASHADHA 30, 1948

सी.जी.-डी.एल.-अ.-21072026-274685 CG-DL-E-21072026-274685

2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]

(i) भारत में न्द्यास या कंपनी या सीजमत िाजयत्ि भागीिारी या जनगजमत जनकाय के रूप में स्ट्थाजपत या जनगजमत कोई जनजध अजभप्रेत है, जिसे प्रिगड 1 या प्रिगड 2 िैकजल्पक जनिेि जनजध के रूप में पंिीकरण का प्रमाणपत्र अनुित्त दकया गया है और जिसे जनम्नजलजखत के अधीन जिजनयजमत दकया िाता है— (अ) भारतीय प्रजतभूजत और जिजनमय बोडड अजधजनयम, 1992 (1992 का 15) के अधीन बनाए गए भारतीय प्रजतभूजत और जिजनमय बोडड (जनजधयों का िैकजल्पक जनिेि) जिजनयम, 2012; या (आ) अंतराडष्ट्रीय जित्तीय सेिा केंर प्राजधकरण अजधजनयम, 2019 (2019 का 50) के अधीन बनाए गए अंतराडष्ट्रीय जित्तीय सेिा केंर प्राजधकरण (जनजध प्रबंधन) जिजनयम, 2022 और िो दकसी अंतराडष्ट्रीय जित्तीय सेिा केंर में अिजस्ट्थत है ; या (ii) कोई जनजध, जिसे अजधजनयम की अनुसूची 6 [ठिप्पण 1 (छ)] में जनर्िडष्ट दकया गया है ;’।

[सं. 94/2026/फा. सं. 370142/24/2026-िीपीएल] रोजहत ससंह, अिर सजचि

ठिप्पण : आय-कर जनयम, 2026, भारत के रािपत्र, असाधारण, भाग II, खंड 3, उपखंड (i) में अजधसूचना संख्या का.आ. 198(अ), तारीख 20 माचड, 2026 द्वारा प्रकाजित दकए गए थे और अंजतम बार अजधसूचना संख्या सा.का.जन. 241(अ) तारीख 31 माचड, 2026 द्वारा संिोजधत दकए गए थे ।

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 21st July, 2026 (INCOME-TAX) G.S.R. 646(E).— In exercise of the powers conferred by section 533 read with section 262 of the Income-tax Act, 2025 (30 of 2025), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 2026, namely: ___

  1. (1) These rules may be called the Income-tax (Second Amendment) Rules, 2026. (2) They shall come into force on the date of their publication in the Official Gazette.
  2. In the Income-tax Rules, 2026, in rule 157, in sub-rule (5), for clause (c), the following clause shall be substituted, namely: — ‘(c) “specified fund” means — (i) any fund established or incorporated in India in the form of a trust or a company or a limited liability partnership or a body corporate which has been granted a certificate of registration as a Category I or Category II Alternative Investment Fund and is regulated under — (A) the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 made under the Securities and Exchange Board of India Act, 1992 (15 of 1992); or

[भाग II—खण् ड 3(i)] भारत का रािपत्र : असाधारण 3

(B) the International Financial Services Centres Authority (Fund Management) Regulations, 2022 made under the International Financial Services Centres Authority Act, 2019 (50 of 2019) and which is located in any International Financial Services Centre; or (ii) any fund which has been referred to in Schedule VI [Note 1(g)] to the Act;’.

[No. 94/2026/F. No. 370142/24/2026-TPL] ROHIT SINGH, Uunder Secy.

Note: The Income-tax Rules, 2026 were published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i), vide notification number G.S.R. 198(E), dated the 20th March, 2026 and were last amended vide notification number G.S.R. 241(E), dated the 31st March, 2026.

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. SARVESH KUMAR SRIVASTAVA Digitally signed by SARVESH KUMAR SRIVASTAVA Date: 2026.07.21 22:54:37 +05'30'

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