MINISTRY OF FINANCE

(Department of revenue)

(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION

New Delhi, 1st September, 2022

INCOME-TAX

G.S.R. 677(E).—In exercise of the powers conferred by section 139A 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 (29^thAmendment) Rules, 2022.

(2) They shall be deemed to have come into force from the 9^th day of July, 2022.  

2. In the Income-tax Rules, 1962, in rule 114BB, after sub-rule (1), the following proviso shall be inserted, namely: —

?Provided that the provisions of this sub-rule shall not apply in a case where the person, depositing the money as per Sl. No. 1 of column (2) or withdrawing money as per Sl. No. 2 of column (2) or opening a current account or cash credit account as per Sl. No. 3 of column (2) of the Table above, is the Central Government, the State Government or the Consular Office.?.  

 [Notification No.  105/2022/F. No. 370142/38/2022-TPL-Part-I]

SHEFALI SINGH, Under Secy.

Explanatory Memorandum : It is hereby certified that by giving retrospective effect to the present notification, no person will be adversely affected in this regard.

Note : The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section-3,  Sub-section (ii) vide number S.O. 969 (E), dated the 26^th March, 1962 and last amended vide notification number G.S.R. 647 (E) dated  26^th August, 2022.