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of <h1>New Income-Tax Rules: Annual Receipts Threshold for Tax Exemption Set at One Crore for Educational, Medical Institutions.</h1> The Income-tax (Eighteenth Amendment) Rules, 1998, issued by the Central Board of Direct Taxes, amends the Income-tax Rules, 1962. The amendments include the introduction of Rule 2BC, which sets the annual receipts threshold for tax exemption under section 10(23C) at one crore rupees for educational and medical institutions. Rule 2CA outlines guidelines for tax exemption approval processes for educational and medical institutions, while Rule 2E provides guidelines for enterprises involved in infrastructure facilities seeking approval under section 10(23G). The amendments specify application procedures, required documentation, and conditions for maintaining tax-exempt status.
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