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TMI BlogIncome-tax (14th Amendment) Rules, 2020.X X X X Extracts X X X X X X X X Extracts X X X X ..... on 295 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. Short title and commencement.‒ (1) These rules may be called the Income-tax (14th Amendment) Rules, 2020. (2) They shall come into force from the 1st day of April, 2020 and shall be applicable for assessment yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... conferring or recognising right of ownership or transfer or mortgage in regard to such immovable property in favour of such resident. Explanation.-For the purposes of this sub-rule,- (a) "resident" means a person having physical possession of property on the basis of a registered sale deed or latest set of Power of Attorney, Agreement to Sale, Will, possession letter and other document ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Central Government under section 242 of the said Act; and (ii) share of company and its subsidiary and the subsidiary of such subsidiary has been received pursuant to a resolution plan approved by the Tribunal under section 242 of the Companies Act, 2013 after affording a reasonable opportunity of being heard to the jurisdictional Principal Commissioner or Commissioner. Explanation.- For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... b) "investor bank " shall have the same meaning as assigned to it in sub-clause (c) of clause (1) of paragraph 2 of the Scheme; (c) "reconstructed bank" shall have the same meaning as assigned to it in sub-clause (d) of clause (1) of paragraph 2 of the Scheme; (d) "Scheme" means Yes Bank Limited Reconstruction Scheme, 2020. [F. No.370149/143/2019-TPL] ANKIT JAIN, Under Secy. (Tax Policy and Le ..... X X X X Extracts X X X X X X X X Extracts X X X X
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