G.S.R. 341(E).—In exercise of the powers conferred by the Explanation 3 to clause (23FE) of section 10 and fourth, fifth and sixth provisos to clause (23FE) of section 10, read with section 295 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. Short title and commencement.— (1) These rules may be called the Income-tax Amendment (Thirteenth Amendment) Rules, 2022.
(2) They shall come into force from the date of their publication in the Official Gazette
- 2. In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), after rule 2DC, the following rule shall be inserted, namely: —
2DCA. Computation of minimum investment and exempt income for the purposes of clause (23FE)
of section 10 of the Act.— (1) For the purposes of clause (23FE) of section 10 of the Act, the percentages
referred to in item (c), item (d) and item (e) of sub-clause (iii) , and the exempt income referred to in the
fourth, fifth and sixth proviso shall be calculated in accordance with this rule.
2. The percentage referred to in item (c) of sub-clause (iii) of clause (23FE) of section 10 of the Act shall be calculated in the following manner, namely:-
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