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of <h1>Income-tax Rules Amended: New Certificate Requirements for Section 35AC Projects; Annual Reporting by June 30 Mandated.</h1> The Income-tax (Second Amendment) Rules, 1993, issued by the Central Board of Direct Taxes, amends the Income-tax Rules, 1962. It introduces new regulations under Part II, sub-part F, specifically after rule 11N. These amendments pertain to certificates of payment or expenditure for projects or schemes eligible under section 35AC of the Income-tax Act, 1961. The rules specify that certificates must be issued in Form No. 58A or 58B and require public sector companies, local authorities, or institutions to submit annual reports detailing contributors' information and project progress. Additionally, an annual statement of donations and project details must be sent to the National Committee and contributors by June 30 each year.
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