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CBDT notifies rules for computation of income of specified funds u/s 10(4D) & 115AD(1B)

January, 15th 2022
The CBDT has inserted two new rules, i.e., Rules 21AJA and 21AJAA in the Income-tax Rules, 1962. Both rules provide the manner for computation of exempt income and taxable income of specified fund, attributable to the investment division of an offshore banking unit, under section 10(4D) and section 115AD(1B) respectively.