Income-tax (Tenth Amendment) Rules, 2003

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.... of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-- 1. (1) These rules may be called the Income-tax (Tenth Amendment) Rules, 2003. (2) They shall be deemed to have come into force with effect from the first day of April, 2003. 2. In the Income-tax Rules, 1962, in rule 67, for sub-rule (2) the following shall be substituted, namely:-- ....

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.... or units of such mutual funds which have been set up as dedicated funds for investment in Government securities and which have been approved by the Securities and Exchange Board of India ; and/or  Fifteen per cent.   (b) in any other negotiable securities, the principle whereof and interest whereon is fully and unconditionally guaranteed by the Central Government or any Stat....

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....iv) of the said Table in the bonds or securities of any company, other than a public sector company, which have an investment grade rating from at least two credit rating agencies registered under sub-section (1A) of section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992): Provided also that in the event of the rating of any instruments mentioned in the second proviso to....

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....y to the aggregate amount of investable moneys with the fund in the previous year. Explanation 2.--For the purposes of this sub-rule; (i) the expression "public financial institutions" shall have the meaning assigned to it in section 4A of the Companies Act, 1956 (1 of 1956); (ii) the expression "public sector company" shall have the meaning assigned to it in clause (36A) of section 2 of ....