Income-tax (Third Amendment) Rules, 2025 - Amends Rule 2F - Guidelines for setting up an Infrastructure Debt Fund for the purpose of exemption under clause (47) of section 10.

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..... TAX G.S.R. 121(E).-- In exercise of the powers conferred by section 295 read with clause (47) 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 (Third Amendment) Rules, 2025. (2) They shall come into force on the date of .....

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..... 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; (ii) issue zero coupon bonds in accordance with rule 8B; or (iii) raise funds through loan route under external commercial borrowings. (4) The terms and conditions of, &# .....

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..... Indian banks."; (c) for sub-rule (7), the following shall be substituted, namely:- "(7) No investment shall be made by the Infrastructure Debt Fund in any project where its specified shareholder or the associated enterprise or the group of such specified shareholder has a substantial interest."; (d) in the Explanation,- (I) in the clause (i), for the word "associate", the word "associated .....

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