MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 16th October, 2023
G.S.R. 740(E).—In exercise of the powers conferred by sub-section (6) of section 195 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 Amendment (Twenty-fifth Amendment), Rules, 2023.
(2) They shall come into force with effect from the 1st day of January, 2024.
2. In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), in rule 37BB,–
(a) in sub-rule (3), after clause (i), the following clause shall be inserted, namely:-
“(ia) the remittance is made by a Unit of an International Financial Services Centre referred to in subsection (1A) of section 80LA; or”;
(b) in sub-rule (4),–
(I) in clause (i), after the words and brackets “Principal Director General of Income-tax (Systems)”, the words and brackets “or the Director General of Income-tax (Systems)” shall be inserted;
For full notification please refer to the attachment