Income-tax (24th Amendment) Rules, 2016 - Expenditure for obtaining right to use spectrum for telecommunication services.

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..... .-In exercise of the powers conferred by clause (iii) of Explanation to section 35ABA and 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. (1) These rules may be called the Income-tax (24th Amendment) Rules, 2016. (2) They shall come into force on th .....

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..... India to make deferred payment, the amount which would have been payable by the assessee had he opted for full upfront payment of spectrum fee irrespective of the previous year in which the liability for the expenditure was incurred according to the method of accounting regularly employed by the assessee. (2) In case of deferred payment referred to in clause (b) of sub-rule (1), where there is .....

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..... Policy and 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 last amended by the Income-tax (23rd Amendment) Rules, 2016, vide notification number S.O. 3080 (E), dated 29/09/2016 . - Notification Tax Management India - taxmanagementind .....

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