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<h1>New Income-tax Rules: Approvals Valid for Three Years Under Amended Rule 2CA, Effective Immediately</h1> The Central Board of Direct Taxes issued the Income-tax (14th Amendment) Rules, 2006, under the authority of section 295 and related provisions of the Income-tax Act, 1961. Effective upon publication in the Official Gazette, these amendments modify the Income-tax Rules, 1962. Specifically, in rule 2CA, a new sub-rule replaces the previous one, stipulating that any approval granted by the Central Board of Direct Taxes, Chief Commissioner, or Director General before December 1, 2006, will be valid for a maximum of three assessment years.