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Income Tax - Highlights / Catch Notes

Home Highlights January 2025 Year 2025 This

CBDT amended Income Tax Rules 1962 through Second Amendment ...


CBDT Amends Income Tax Rules: New Guidelines for Venture Capital Funds and Finance Companies in International Financial Services Centres

January 29, 2025

Notifications     Income Tax

CBDT amended Income Tax Rules 1962 through Second Amendment Rules 2025, introducing key changes for International Financial Services Centres. New provisions establish conditions for Venture Capital Funds under section 10(23FB), requiring them to operate as Category I Alternative Investment Funds. Rule 21ACA specifies permissible activities for Finance Companies in IFSCs, including lending, factoring, and treasury operations. Additional amendments to Rule 21AIA introduce strict requirements for retail schemes, mandating minimum investor diversification and investment limits. Exchange Traded Funds must be listed on recognized exchanges and comply with IFSCA regulations. These amendments enhance regulatory framework for fund management and financial operations in IFSCs, effective upon official gazette publication.

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