ser Trust can invest in debt instruments of Infrastructure Finance Companies registered with RBI Trust can invest in debt instruments of Infrastructure Finance Companies registered with RBI

CBDT has vide Notification No. 40/2012 dated 20-9-2012 allowed charitable or religious trust or institution to invest in debt instruments issued by any infrastructure Finance Company registered with the Reserve Bank of India.

Income-tax (Thirteenth Amendment) Rules, 2012 – Amendment in Rule 17C

Notification No. 40/2012 [F.No 149/32/2012-SO(TPL)]/SO 2261(E), dated 20-9-2012

In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-

1. (1) These rules may be called the Income-tax (13th Amendment) Rules, 2012.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Income-tax Rules, 1962, in rule 17C, after clause (vii), the following clause shall be inserted, namely:-

“(viii) investment in debt instruments issued by any infrastructure Finance Company registered with the Reserve Bank of India.”

(Ashish Kumar)

Director (Tax Policy and Legislation)

Note:- The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii) vide number S.O. 969(E) dated 26th March, 1962 and was last amended by notification number S.O. 2188(E) 17th September, 2012.

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