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of <h1>Income-tax Rules Amendment: Two-Wheeled Vehicles Excluded from Motor Vehicle Definition for Sale/Purchase Transactions u/r 114B.</h1> The Income-tax (Twenty-fifth Amendment) Rules, 1998, issued by the Central Board of Direct Taxes, amends the Income-tax Rules, 1962. Effective from November 1, 1998, the amendment modifies rule 114B by adding a proviso that excludes two-wheeled vehicles, including those with a detachable side-car, from the definition of motor vehicles for the purposes of sale or purchase transactions. This notification is part of the regulatory framework under section 295 of the Income-tax Act, 1961.
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