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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Category : Income Tax (25515)
Type : Notifications (15398) Notifications/Circulars (30679)

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