TaxTMI 
TaxTMI 
Income-tax (8th Amendment) Rules, 2022
X X X X Extracts X X X X
X X X X Extracts X X X X
....he 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 with the directions of the Reserve Bank of India and the regulations referred to in the said clause ; or (ii) under clause (ii) of sub-rule (3) shall be in accordance with rule 8B.". 3. In the principal rules, in rule 8B, ─ (a) in sub-rule (1),- (i) for the words "infrastructure capital fund", the words "infrastructure capital fund or infrastructure debt fund" shall be substituted; (ii) for the proviso, the following provisos shall be substituted, namely:- "Provided that an application shall not be made for notification of a bond which is to be issued beyond a period of two financial years following the financial year in which such application is made: Provided further that an application made in Form No. 5B shall be disposed o....
X X X X Extracts X X X X
X X X X Extracts X X X X
....irector-General of Income-tax (Systems) or Director-General of Income-tax (Systems) shall specify the procedures, formats and standards for ensuring secure capture and transmission of data and shall also be responsible for evolving and implementing appropriate security, archival and retrieval policies in relation to furnishing of Form No. 5B and Form No. 5BA. Explanation.- For the purposes of this rule, the expressions,- (i) "discount" and "period of life of the bond" shall have the same meanings respectively assigned to them in clause (i) and clause (ii) of the Explanation to clause (iiia) of sub-section (1) of section 36; (ii) "electronic verification code" means a code generated for the purpose of electronic verification of the person furnishing the return of income as per the data structure and standards specified by Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems); (iii) "infrastructure debt fund" shall mean the infrastructure debt fund notified by the Central Government in the Official Gazette under clause (47) of section 10 of the Act.". 4. In the principal rules, in Appendix II, for Form No....
X X X X Extracts X X X X
X X X X Extracts X X X X
....(ii) of the Explanation to clause (iiia) of sub- section (1) of section 36; (ii) "electronic verification code" means a code generated for the purpose of electronic verification of the person furnishing the return of income as per the data structure and standards specified by Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems); (iii) "infrastructure debt fund" shall mean the infrastructure debt fund notified by the Central Government in the Official Gazette under clause (47) of section 10 of the Act.". 4. In the principal rules, in Appendix II, for Form No 5B, the following Forms shall be substituted, namely:― "FORM NO. 5B [See sub-rule (1) rule 8B] Application for notification of a zero coupon bond under clause (48) of section 2 of theIncome-tax Act, Name of the applicant 2. Category (Please tick one): 3. Address 4. 5. 6. 1961 Permanent Account Number of the applicant Jurisdictional Assessing Officer Date of incorporation/registration (Please enclose copy of certificate of incorporation/ registration) Infrastructure capital company/ Infrastructur....
X X X X Extracts X X X X
X X X X Extracts X X X X
....se of Infrastructur e Debt Fund] (vii) (viii) (ix) ( Attach organisation structure chart) (xi) S. Source Amount S. No. Designation Name Qualifi- cation No. (In Rs) 1.Director 1. Zero 2. Trustee Coupon 3. Others Bond (i) (ii) (iii) (iv) 2. Own Funds Exper- ience 3. Other loan and and Performa nce borrowings Name Address PAN/Aadhar 4. Issue of rupee denominat (v) (vi) (vii) (viii) ed bonds 5. Issue of foreign currency bond 6. Others (Specify) Total Amount of funds realised by issue of Zero Coupon Bond proposed to be invested project wise in (Select the first Financial Year) Name of Project Financial Year 1 Financial Year 2 (Rs) Financial Financial Financial Year 3 (Rs) Year 4 Year 5 Financial Year 6 (xii) Whether copy (Rs) (xiii) (xiv) of the project report is available? (xix) (Rs) (Rs) (Rs) (xv) (xvi) (xvii) (xviii) Yes/no 11 (Write "not applicable" against the column or columns which are not relevant to the ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Date of Notification for the issue of Zero Coupon Bond 5. Notification Number Infrastructure capital company/ Infrastructure capital fund/ Infrastructure debt fund/Public sector company Dd/mm/yyyy [à¤à¤¾à¤— II–खणà¥à¤¡ 3(i)] à¤à¤¾à¤°à¤¤ का राजपतà¥à¤° : असाधारण 6. Date of issue of Zero Coupon Bond Dd/mm/yyyy 7. Amount realised vide issue of Zero Coupon Bond (in Rs) 8. Details of Investment made out of the funds realised by issue of zero coupon bond 13 0 Entity in entity in which which aar of entity in ss of of in entity busine ss of ent has been been made made 1.Public Sector Company 2.Other colum entity S.N Name of Nature of PAN/Aadh Addre Nature Address/Loca Date of Date | Investm Investme column (ii) nt has of Amount of funds raised by issue of Zero Coupon Bond invested of ment of ment of across financial years (In Rs) Operations Commercial of Date tion of Project commencem Commence Commence ent Project Operat....