Notification No. 02 — Amendment of the Income-tax Rules under section 80

What this is

Notification No. 02 was published on 8 January 2008. Its subject is Amendment of the Income-tax Rules under section 80 of the Income-tax Act, 1961.

This amends the Income-tax Rules. What it changes is the Rules, not the Act — and a rule can never take away what the section gives.

What it does

Under section 295 read with clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961, the Central Board of Direct Taxes makes the Income-tax (First Amendment) Rules, 2008, substituting rule 18C of the Income-tax Rules, 1962. The substituted rule 18C prescribes the eligibility of industrial parks for the benefit under clause (iii) of sub-section (4) of section 80-IA: the undertaking must begin to develop, develop and operate, or maintain and operate an industrial park at any time during the period beginning on 1 April 2006 and ending on 31 March 2009; the undertaking and the industrial park must be notified by the Central Government under the Industrial Park Scheme, 2008; and the undertaking must continue to fulfil the conditions envisaged in that Scheme.

Who it reaches

undertakings developing, operating or maintaining industrial parks
promoters seeking notification under the Industrial Park Scheme, 2008
assessing officers examining a claim under clause (iii) of sub-section (4) of section 80-IA

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.80	s.121, s.138, s.139, s.140, s.141, s.142, s.143
s.295	s.533

The instrument, as the Board published it

The words below are the department’s own, reproduced from its published text. Where the department’s copy carried a publisher’s notes after the instrument, those are not reproduced.

NOTIFICATION NO. 2/2008, DATED 8-1-2008

In exercise of the powers conferred by section 295 read with clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
1. (1) These rules may be called the Income-tax (First Amendment) Rules, 2008.

They shall come into force on the date of their publication in the Official Gazette.

In the Income-tax Rules, 1962, for rule 18C, the following shall be substituted, namely:-

"Eligibility of Industrial Parks for benefits under section 80-IA (4)(iii)
18C. (1) The undertaking shall begin to develop, develop and operate or maintain and operate an industrial park any time during the period beginning on the 1st day of April, 2006, and ending on the 31st day of March, 2009.

The undertaking and the Industrial Park shall be notified by the Central Government under the Industrial Park Scheme, 2008.

The undertaking shall continue to fulfill the conditions envisaged in the Industrial Park Scheme, 2008."

[F.No.149/278/2006-TPL]

What it changes

The rule numbers are the 1962 Rules’ own, as the notification names them. The right-hand column is the department’s own mapping into the Income-tax Rules, 2026, which renumbered nearly everything.

Rule of the 1962 Rules	Now, in the 2026 Rules
Rule 18C	no counterpart recorded

From when

the date of publication in the Official Gazette.

What to watch

The rules come into force on the date of their publication in the Official Gazette, which the text does not itself give.
The old rule 18C is substituted, so the eligibility conditions it carried no longer apply.
The window for beginning to develop, develop and operate, or maintain and operate the park closes on 31 March 2009.
Eligibility is a continuing requirement: the undertaking must keep fulfilling the conditions of the Industrial Park Scheme, 2008, not merely satisfy them at notification.
The substituted rule as printed numbers only its first proposition as sub-rule (1); the two that follow carry no numbers.

Where you meet it

In the return of an industrial park undertaking claiming deduction under section 80-IA, and in the assessment where the notification under the Industrial Park Scheme, 2008 is called for.

What it names

Rules it names. Rule 18C of the Income-tax Rules, 1962. The 1962 Rules were replaced by the Income-tax Rules, 2026, which renumbered nearly everything: a rule number quoted here almost never means the same rule today.

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Notification No. 53/2025 [F. No. 370142/16/2025-TPL] / GSR 356(E) — Ministry of Finance 30 May 2025
Notification No. 50/2025 [F. No. 370142/14/2025-TPL] / GSR 352(E) — [भाग II—खण् ड 3(i)] भारत का रािपत्र : असाधारण 3 29 May 2025
Notification No. 51/2025 [F. No. 370142/17/2025-TPL] / GSR 353(E) — [भाग II—खण् ड 3(i)] भारत का रािपत्र : असाधारण 3 29 May 2025
Circular No. 13/2023 — Condonation of delay under clause (b) of sub-section (2) of section 119 of the Income-tax Act, 1961 for returns of incom 26 July 2023
Notification No. 72/2020 [F. No.178/111/2009-ITA-1]/ SO 3035(E) — Ministry of Finance 8 September 2020
Notification No. 29/2019/ F.No. 178/8/2015-ITA-I]/SO 1465(E) — Ministry of Finance 28 March 2019

← Notification No. 03 · Notification No. 01 →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.