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Taxation Central Ministry of Finance Income Tax Act, 1961

Income tax (1st Amendment), Rules, 2022

14-Jan-2022 | Notification No. 6/2022

CBDT has notified Income-tax (1st Amendment), Rules, 2022 which shall come into force from the 1st day of April 2022. With the said notification, Rule 21AJA and Rule 21AJAA have been inserted. (a) Rule 21AJA deals with the computation of exempt income of the specified fund, attributable to the investment division of an offshore banking unit, for the purposes of section 10 (4D) of the Income Tax Act, 1961. (b) Rule 21AJA deals with the determination of income of a specified fund attributable to the investment division of an offshore banking unit under section 115AD (1B) of the Income Tax Act, 1961. Also, Form No 10-IK (in reference to the above insertions) has been substituted.

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