Speak now

1. Short title and commencement.–(1) These rules may be called the Income-tax (14th Amendment) Rules, 2021. (2) They shall come into force from the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), in rule 114AAB,–– (I) after sub-rule (2), the following sub-rules shall be inserted, namely:–– “(2A) The provisions of section 139A shall not apply to a non-resident, being an eligible foreign investor, who has made transaction only in a capital asset referred to in clause (viiab) of section 47 which are listed on a recognised stock exchange located in any International Financial Services Centre and the consideration on transfer of such capital asset is paid or payable in foreign currency, if the following conditions are fulfilled, namely:—