Income tax Amendment (22nd Amendment) Rules 2021

Computation of exempt income of specified fund for the purposes of clause (4D) of section 10.

The Rule provides formula for computation of income attributable to units held by non-resident (not being the permanent establishment of a non-resident in India) in a specified fund for the purpose of clause (4D) of section 10.

Determination of income of a specified fund attributable to units held by non-residents under sub-section (1A) of section 115AD.

The Rule provides formula of calculation, for purposes of sub-section (1A) of section 115AD, the income of a specified fund by way of short-term or long-term capital gains, referred to in clause (b) of sub-section (1) of section 115AD, attributable to the units held by non-resident (not being the permanent establishment of a non-resident in India)