Exclusion from Rule 114BB: central and state governments and consular offices exempted from specified reporting, retrospective effect. Proviso added to rule 114BB of the Income-tax Rules, 1962 excluding deposits, withdrawals and opening of current or cash credit accounts from the sub-rule when the transacting person is the Central Government, the State Government or a Consular Office; the Income-tax (29th Amendment) Rules, 2022 are given retrospective effect from 9 July 2022 and accompanied by an explanatory memorandum stating no person will be adversely affected.
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Provisions expressly mentioned in the judgment/order text.
Exclusion from Rule 114BB: central and state governments and consular offices exempted from specified reporting, retrospective effect.
Proviso added to rule 114BB of the Income-tax Rules, 1962 excluding deposits, withdrawals and opening of current or cash credit accounts from the sub-rule when the transacting person is the Central Government, the State Government or a Consular Office; the Income-tax (29th Amendment) Rules, 2022 are given retrospective effect from 9 July 2022 and accompanied by an explanatory memorandum stating no person will be adversely affected.
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