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Rule 5AA of Income Tax Rules 1962: Prescribed authority for investment allowance.

Rule 5AA - Prescribed authority for investment allowance

For the purposes of sub-section (2B) of section 32A, the “prescribed authority” shall be the Secretary, Department of Scientific and Industrial Research, Government of India.

Extra Notes for Readers:

- Rule 5A was introduced by the Income Tax (Fifth Amendment) Rules 1977 w.e.f. 01-04-1978. Later it was renumbered as rule 5AA by the Income Tax (Fourteenth Amendment) Rules, 2002, w.e.f. 01-04-2003. (this rule 5AA is mentioned above)
- Original Rule 5AA, which was introduced by the Income Tax (Amendment) Rules 1981 w.e.f. 01-04-1981, was omitted by the Income Tax (Third Amendment) Rules 1987 w.e.f. 02-04-1987.

Reference/Source: Check at Income Tax site for latest version of the Rules - link

This page was last updated on 17th October 2016.

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