The Central Board of Direct Taxes (CBDT) on May 30, 2023, issued the Income-tax (7th Amendment) Rules, 2023 to further amend the Income-tax Rules, 1962.
The following has been amended namely: -
• Rule 11 AA which states “Requirement for approval of institution of fund under clause (vi) of sub-section (5) of section 80G” sub-rule (7) has been substituted namely: -
“In case of an application made under clause (iv) of the first proviso to sub-section (5) of section 80G of the Act, the provisional approval shall be effective from the assessment year relevant to the previous year in which such application is made.”
[Notification No. G.S.R. 399(E)]
