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Taxation Central Ministry of Finance Income Tax Act, 1961

CBDT introduces the Income-tax (7th Amendment) Rules, 2023

30-May-2023 | G.S.R. 399(E)

CBDT has issued the Income-tax (7th Amendment) Rules, 2023 amending the provisions of the Income-tax Rules, 1962, effective from 30th May 2023. By virtue of this amendment, for the application made under clause (iv) of the first proviso to Section 80G(5) of the Act, the provisional approval shall be effective from the assessment year relevant to the previous year in which such application is made and not from the date of order under Rule 11AA(7) of the Income-tax Rules, 1962. {Note: Clause (iv) of the first proviso to Section 80G(5) applies to the institution or fund maintaining regular accounts of its receipts and expenditure}.

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