Income-tax (7th Amendment) Rules, 2019 - Setting up an Infrastructure Debt Fund for the purpose of exemption u/s 10(47) - Additional condition of Lock-in-period of 3 years in case of Non-Residents removed. - 66/2019 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 66/2019 New Delhi, the 16th September, 2019 (INCOME-TAX) G.S.R. 661(E).- In exercise of the powers conferred by clause (47) 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 (7th Amendment) Rules, 2019. (2) They shall come into force from the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962 , in Rule 2F, in sub-rule (5), the proviso shall be omitted. [F.No. 370142/10/2019-TPL] NIRAJ KUMAR, Dy. Secy. (Tax Policy Legislation) Note : The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii) vide notification number S.O. 969(E), dated the 26th March, 1962 and was last amended, vide notification number S.O. 3215(E) dated 5th September, 2019.