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TMI BlogINCOME-TAX (FIFTH AMENDMENT) RULES, 2009 - AMENDMENT IN RULE 67X X X X Extracts X X X X X X X X Extracts X X X X ..... by makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. (1) These rules may be called the Income-tax (Fifth Amendment) Rules, 2009. (2) They shall come into force with effect from the first day of April. 2009. 2. In the Income-tax Rules, 1962, in rule 67, for sub-rule (2) the following shall be substituted, namely:- "(2) The manner of investment referred to in su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... odies Corporate, including banks and public financial institutions; (b)Term Deposit Receipts of not less than one year duration issued by scheduled commercial banks fulfilling all the following criteria: (i) it has made profit continuously for immediately preceding three years; (ii) it is maintaining a minimum Capital to Risk Weighted Assets Ratio of 9 per cent; (iii) it is having net non-perf ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... April, 2009, reduced by obligatory outgoings, shall be invested in accordance with the manner of investment specified in this sub-rule: Provided further that the investment pattern specified in this sub-rule may be achieved by the end of the previous year; so however that at no time during the year investment in any category should exceed by more than ten per cent of the limit prescribed: Provid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eing rated and their rating falling below the investment grade, as certified by one credit rating agencies registered under sub-section (1A) of section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), then the option of exit from such instruments can be exercised and the released funds shall be invested in accordance with the manner provided in the Table of this sub-rule: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to it in clause (36A) of section 2 of the Income-tax Act; (iv) the expression "public sector bank" shall have the meaning assigned to it in clause (23D) of section 10 of the Income-tax Act; and (v) the expression "securities" shall have the meaning assigned to it in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956.". [Notification No. 24. F. No. 142/13/2008-TPL] No ..... X X X X Extracts X X X X X X X X Extracts X X X X
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