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The Central Board of Direct Taxes (CBDT), under the Ministry of Finance, has notified the Income-tax (Twenty-Fourth Amendment) Rules, 2025 on August 21, 2025, making key changes to the Income-tax Rules, 1962. According to the notification (G.S.R. 566(E)), the amendment specifically impacts Rule 21AIA, which deals with provisions relating to income of specified funds. The changes include: Omission of sub-rule (4) from Rule 21AIA. Revised Explanation: The term "specified fund" will now carr
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FAQ :
The CBDT has notified changes to Rule 21AIA of the Income-tax Rules, 1962, including the omission of sub-rule (4) and a revised explanation for 'specified fund'.
The amendments came into effect from August 21, 2025, the date of their publication in the Official Gazette.
The term 'specified fund' will now have the same meaning as defined in sub-clause (i) of clause (c) of the Explanation to section 10(4D) of the Income-tax Act, 1961.
The amendments are intended to bring greater clarity and alignment between the Income-tax Rules and the provisions of the Income-tax Act, particularly concerning specified funds.
Rule 21AIA, which relates to provisions for the income of specified funds, has been amended.
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