Income-tax (10th Amendment) Rules, 2022

Apr 25, 2022 | by TeamLease RegTech Legal Research Team

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Finance & Taxation ComplianceThe Central Board of Direct Taxes (CBDT) on April 22, 2022 has issued The Income-tax (10th Amendment) Rules, 2022 to further amend The Income-tax Rules, 1962. This has come into force on April 22, 2022.

The following has been amended namely: -

• Rule 17C which specify “Forms or modes of investment or deposits by a charitable or religious trust or institution” the following clause (vb) has been inserted namely: -

“Investment made by a person, authorised under section 4 of the Payment and Settlement Systems Act, 2007 (51 of 2007), in the equity share capital or bonds or debentures of Open Network for Digital Commerce Ltd, being a company incorporated under sub-section (2) of section 7 read with sub-section (1) of section 8 of the Companies Act, 2013 (18 of 2013), for participating in network based open protocol models which enable digital commerce and interoperable digital payments in India”

[Notification No. G.S.R. 309(E)]

 


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