Income-tax (8th Amendment) Rules, 2022

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....ial Gazette. 2. In the Income-tax Rules, 1962 (hereafter referred to as the principal rules), in rule 2F, for sub-rule (3) and (4), the following sub-rules shall be substituted, namely:─ "(3) The Infrastructure Debt Fund shall issue,- (i) rupee denominated bonds or foreign currency bonds in accordance with the directions of Reserve Bank of India and the relevant regulations under the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, as amended from time to time; or (ii) zero coupon bonds in accordance with rule 8B. (4) The terms and conditions of a bond issued by the Infrastructure Debt Fund, ─ (i) under clause (i) of sub-rule (3) shall be in accordance wit....

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....ely:- "(vi) where the application is made by an infrastructure debt fund, such fund shall along with the application, submit an undertaking that a sinking fund shall be maintained for the interest which will accrue on all the zero coupon bonds subscribed and such interest shall be invested in Government security as defined under clause (f) of section 2 of the Government Securities Act, 2006 (38 of 2006)."; (d) in sub-rule (5) for the words "infrastructure capital fund", the words "infrastructure capital fund or infrastructure debt fund" shall be substituted; (e) for sub-rule (6), the following sub-rule shall be substituted, namely- "(6) Every infrastructure capital company or infrastructure capital fund or infrastructure debt fund o....