The Central Board of Direct Taxes, (CBDT) on February 07, 2025, notified the Income-tax (Third Amendment) Rules, 2025 to further amend the Income-tax Rules, 1962.
The following has been stated-
•After sub-rule (5), the following sub-rule shall be inserted, namely:– “(5A) In case of external commercial borrowings by the Infrastructure Debt Fund, the tenor shall not be less than a period of five years and such borrowings shall not be sourced from foreign branches of Indian banks.”.
•For sub-rule (7), the following shall be substituted, namely:– “(7) No investment shall be made by the Infrastructure Debt Fund in any project where its specified shareholder or the associated enterprise or the group of such specified shareholder has a substantial interest.”
[Notification No. G.S.R. 121(E)]
