Income-tax (Second Amendment) Rules, 2025

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....sub-item (b) of item (I) of sub-clause (i) of clause (c) of the Explanation to clause (4D), sub-item (iv) of item (II) of sub-clause (A) of clause (b) of the Explanation to clause (23FB) of section 10 and clause (iv) of sub-section (5) of section 94B of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1....

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....tional Financial Services Centres Authority (Fund Management) Regulations, 2022 made under the International Financial Services Centres Authority Act, 2019 (50 of 2019)."; (b) after rule 21AC, the following shall be inserted, namely:- "Conditions and activities for the Finance Company located in any International Financial Services Centre for section 94B.- 21ACA.- (1) For the pur....

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....ident, shall be in foreign currency. Explanation.- For the purposes of this rule, the expressions- (i) "Finance Company" means a finance company as defined in clause (e) of sub-regulation (1) of regulation 2 of the International Financial Services Centres Authority (Finance Company) Regulations, 2021 made under the International Financial Services Centres Authority Act, 2019 (50 ....

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.... shall not make any investment exceeding fifteen per cent. of its total assets under management in unlisted securities; and (iv) it shall not make any investment exceeding ten per cent. of its total asset under management in a single company. (B) the Exchange Traded Fund shall satisfy the following conditions, namely:- (i) it shall be mandatorily listed and traded on a r....