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of <h1>Finance Act 1999 shifts approval authority under Income-tax Act to Central Government; impacts Rule 6 and Form 3CF.</h1> The Finance Act, 1999, amended section 35(1) of the Income-tax Act, 1961, transferring the authority to grant approval under sections 35(1)(ii) and 35(1)(iii) from the Director General of Income-tax (Exemption) to the Central Government. Consequently, changes were made to rule 6 of the Income-tax Rules, 1962, and Form 3CF. For assessment year 2000-2001 onwards, fresh applications must be filed with the Central Government. Pending applications as of June 25, 1999, will also be transferred to the Central Government. The previous authority will handle cases for assessment year 1999-2000 or earlier. Existing approvals remain valid without further notification.
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