May 30, 2007

Notification No. 193/2007

In exercise of the powers conferred by section 295, read with sub-clauses (vi) and (via) of clause (23C) of section 10 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, 1962, namely:

1. (1) These rules may be called the Income-tax (Fifth Amendment) Rules, 2007.

(2) They shall come into force from the 1st day of June, 2007.

2. In the Income-tax Rules, 1962, in rule 2CA,

(i) after sub-rule (1A), the following proviso shall be inserted, namely:

Provided that in case of applications received prior to 3rd day of April, 2001 where no order has been passed granting approval or rejecting the application as on 31st day of May, 2007, the prescribed authority under sub-clauses (vi) and (via) of clause (23C) of section 10 shall be the Chief Commissioner or Director General..

(ii) after sub-rule (3), for the Explanation, the following Explanation shall be substituted, namely:

Explanation. For the purposes of this rule, Chief Commissioner or Director General means the Chief Commissioner or Director General whom the Central Board of Direct Taxes may, authorise to act as prescribed authority, for the purposes of sub-clause (vi) or sub-clause (via) of clause (23C) of section 10, in relation to any university or other educational institution or any hospital or other medical institution.;

(iii) in Appendix II to the Income-tax Rules, 1962, in Form No. 56D, in the Notes,

(A) in item number 1, for the words Chief Commissioner or Director General through the Commissioner or Director of Income-tax, the words, brackets, figures and letters Chief Commissioner or Director General whom the Central Board of Direct Taxes may authorise to act as prescribed authority for the purposes of sub-clause (vi) or sub-clause (via) of clause (23C) of section 10 through the Commissioner of Income-tax or Director of Income-tax (Exemptions) shall be substituted;

(B) in item number 3, after the words Chief Commissioner or Director General, the words or any authority authorised by the Chief Commissioner or Director General shall be inserted.