Approval of the fund

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....Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, North Block, New Delhi having supervision and control over the work of Foreign Tax and Tax Research (FT&TR) Division.] (3) The application under sub-rule (2) shall be made three months before the beginning of the previous year for which the fund seeks the approval. (4) A committee as notified by the Board, shall exami....

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....committee, shall, within sixty days from the end of the month in which the application under sub-rule (2) has been made,- (i) by an order in writing, grant approval to the fund subject to such conditions as it may deem fit; or (ii) for reasons to be recorded in writing, reject the application. (8) The approval once granted, subject to any condition specified in this behalf, sh....