Income-tax Rules, 2026 | Rule 275 of 333

Rule 275 - Approval of investment fund at its option for section 9(12)

Reviewed by CA Nikhil Gupta · Last reviewed 29 August 2026

Local extract available Legacy mapping: 10VA

275Rule number

1813Local text characters

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Source and status control

Primary authority: Notification No. 22/2026 / G.S.R. 198(E)

Currentness control: Base Rules effective 1 April 2026. Check later amendments, corrigenda and portal implementation before action.

Local statutory extract - official source controls

Rule text held in the production corpus

Investment fund approval option. 275. (1) An investment fund may, at its option, seek Board approval of its eligibility for the purposes of section 9(12). (2) The fund shall apply in writing, with relevant documents and evidence, to the Member, Central Board of Direct Taxes, having supervision over the Foreign Tax and Tax Research Division. (3) The application shall be made three months before the start of the tax year for which approval is sought. (4) The Board shall notify a committee (headed by a Principal Chief Commissioner or Chief Commissioner, with two further Income-tax authorities not below Commissioner rank) to examine the application and recommend on approval and any conditions. (5) The committee may, before recommending, call for documents or information from the fund, income-tax authorities, or other departments or agencies. (6) The Board shall, within two months of the end of the month of application, either grant approval (with conditions as it deems fit) or reject the application for recorded reasons. (7) Approval, once granted, applies to the tax year in sub-rule (3) and subsequent tax years, unless withdrawn by the Board. (8) The section 9(12) benefit shall not be denied to an approved eligible fund for any tax year the approval remains in force. (9) The Board may withdraw approval if satisfied it was obtained by misrepresentation or fraud, the section 9(12)/Schedule I conditions or paragraph 5 guidelines are not fulfilled, or a condition of approval has been violated. (10) No order rejecting an application or withdrawing approval shall be passed without a reasonable hearing opportunity, and such an order shall be communicated to the fund, the Assessing Officer, and the Principal Commissioner or Commissioner of Income-tax having jurisdiction over the fund.

Local extract SHA-256: 74660044bfea9389b32713668e9eb23a5910f5a6b67f359b6f4fdc0972260004. This hash authenticates the local extract only; it does not certify that every amendment, table or Gazette footnote has been consolidated.

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Official starting point: www.incometaxindia.gov.in

Page source links

Notification No. 22/2026 / G.S.R. 198(E)

Primary sources & verification — Rule 275 — exact-source and implementation control

Reviewed: 22 August 2026.

Notified heading: Rule 275. Approval of the investment fund at its option for purposes of section 9(12).

An investment fund choosing this approval route must work from the notified application/evidence requirements and timing. The notified rule states that the written application is made to the CBDT Member supervising Foreign Tax and Tax Research and, under sub-rule (3), is to be made three months before the beginning of the tax year for which approval is sought.

Identify the exact assessment year/tax year before applying this page. AY 2026-27 (income of FY 2025-26) remains governed by the Income-tax Act, 1961; Tax Year 2026-27 onward is governed by the Income-tax Act, 2025 and the Income-tax Rules, 2026. Do not mix section numbers, forms or due-date rules across the transition.

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Record the governing period and Act.
Retain computation, payment/filing acknowledgement and supporting evidence.
Re-check later notifications, forms and portal implementation before action.

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