INCOME-TAX (SIXTH AMENDMENT) RULES, 2007 – SUBSTITUTION OF RULE 2C; AMENDMENTS IN FORM NO. 56

NOTIFICATION NO. 194/2007 [F. NO. 153/41/2007-TPL], DATED 30-5-2007

In exercise of the powers conferred by section 295, read with sub-clauses (iv) and (v ) of clause (23C) of section 10 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:—

1. (1) These rules may be called the Income-tax (Sixth Amendment) Rules, 2007.

(2) They shall come into force from the 1st day of June, 2007.

2. In the Income-tax Rules, 1962,—

  (i)  for rule 2C, the following rule shall be substituted, namely:—

        ‘2C. Guidelines for approval under sub-clauses (iv) and (v) of clause (23C ) of section 10.—(1) The prescribed authority under sub-clauses (iv) and (v ) of clause (23C) of section 10 shall be the Chief Commissioner or Director General, to whom the application shall be made as provided in sub-rule (2).

        (2) The application to be furnished under sub-clauses (iv) and (v) of clause ( 23C) of section 10 by a fund, trust or institution shall be in Form No. 56.

        Explanation.— For the purposes of this rule, “Chief Commissioner or Director General” means the Chief Commissioner or Director General whom the Central Board of Direct Taxes may, authorise to act as prescribed authority for the purposes of sub-clause (iv) or sub-clause (v) of clause (23C) of section 10 in relation to any fund or trust or institution.’;

 (ii)  in Appendix II to the Income-tax Rules, 1962, in Form No. 56, in the Notes,—

 (A)  in item number 2, for the words and brackets “Director General Income-tax (Exemptions) through the Commissioner of Income-tax”, the words, brackets, figures and letters “Chief Commissioner or Director General whom the Central Board of Direct Taxes may authorise to act as prescribed authority, for the purposes of sub-clause (iv) or sub-clause (v) of clause (23C) of section 10, through the Commissioner of Income-tax or Director of Income-tax (Exemptions)” shall be substituted;

 (B)  in item number 4, for the words and brackets “Director General Income-tax (Exemptions) or any authority authorised by the Director General Income-tax (Exemptions)”, the words “Chief Commissioner or Director General or any authority authorised by the Chief Commissioner or Director General” shall be substituted.

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