Ministry of Finance Department of Revenue Central Board of Direct Taxes

Amendment of the Income Tax Rules, 1962 prescribing conditions for specified fund as defined in clause (4D) of Section 10 of the Income Tax Act, 1961.

Issue Date: 21 August 2025 Published: 21 August 2025

Gazette ID: CG-DL-E-21082025-265599 Download PDF

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Core Purpose

The Central Board of Direct Taxes amends the Income-tax Rules, 1962, by introducing the Income-tax (Twenty-Fourth Amendment) Rules, 2025.

Detailed Summary

The Ministry of Finance, Department of Revenue, through the Central Board of Direct Taxes, exercising powers under section 295 of the Income-tax Act, 1961 (43 of 1961), has published the Income-tax (Twenty-Fourth Amendment) Rules, 2025. These rules, notified via G.S.R. 566(E) on August 21, 2025, come into force on their publication date in the Official Gazette. The amendments specifically target rule 21AIA of the Income-tax Rules, 1962. Sub-rule (4) of rule 21AIA is omitted, and the existing Explanation is substituted with a new one. The new Explanation clarifies that the expression "specified fund" for the purpose of this rule shall have the same meaning as assigned in sub-clause (i) of clause (c) of the Explanation to clause (4D) of section 10 of the Act. The notification references F. No. 370142/29/2025-TPL and is signed by Rohit Singh, Under Secretary, Tax Policy and Legislation. It notes that the Income-tax Rules, 1962, were originally published vide S.O. 969 (E) dated March 26, 1962, and were last amended vide G.S.R. 564(E) dated August 20, 2025.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-21082025-265599 EXTRAORDINARY PART II-Section 3-Sub-section (i) PUBLISHED BY AUTHORITY No. 522] NEW DELHI, THURSDAY, AUGUST 21, 2025/SHRAVANA 30, 1947 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 21st August, 2025 INCOME-TAX G.S.R. 566(E). — In exercise of the powers conferred by 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 (Twenty-Fourth Amendment) Rules, 2025. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962, in rule 21AIA, – (a) sub-rule (4) shall be omitted; (b) for the Explanation, the following Explanation shall be substituted, namely:— "Explanation. For the purpose of this rule, the expression "specified fund" shall have the same meaning as assigned to it in sub-clause (i) of clause (c) of the Explanation to clause (4D) of section 10 of the Act.". [Notification No. 136/2025/F. No. 370142/29/2025-TPL] ROHIT SINGH, Under Secy., Tax Policy and Legislation Note: The Income-tax Rules, 1962 was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii) vide number S.O. 969 (E), dated the 26th March, 1962 and was last amended vide notification number G.S.R. 564(E), dated the 20th August, 2025. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054. AMIT KUMAR JAISWAL Digitally signed by AMIT KUMAR JAISWAL Date: 2025.08.21 19:42:26 +05'30'

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