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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Income-Tax Rules Amended: Infrastructure Debt Funds Must Be Non-Banking Financial Companies per RBI Guidelines.</h1> The Income-Tax (17th Amendment) Rules, 2015, effective from May 14, 2015, amend the Income-tax Rules, 1962. The amendment specifies that the Infrastructure Debt Fund must be established as a Non-Banking Financial Company in accordance with the Reserve Bank of India's guidelines. The fund's investments should be directed towards infrastructure projects with at least one year of successful commercial operations. These projects can be either Public Private Partnership (PPP) projects with specific agreements or non-PPP projects in sectors without a project authority. The notification was issued by the Central Board of Direct Taxes under the Ministry of Finance.
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