{"id":255362,"date":"2021-10-08T10:37:57","date_gmt":"2021-10-08T05:07:57","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=255362"},"modified":"2021-10-08T10:36:22","modified_gmt":"2021-10-08T05:06:22","slug":"contingency-fund-of-india-amendment-rules-2021","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/10\/08\/contingency-fund-of-india-amendment-rules-2021\/","title":{"rendered":"Contingency Fund of India (Amendment) Rules, 2021"},"content":{"rendered":"<p style=\"text-align: justify;\"><span id=\"page1R_mcid502\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">The Central Government notified Contingency Fund of India (Amendment) Rules, 2021 to amend the Contingency Fund <\/span><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">of India Rules, 1952.<br \/>\n<\/span><\/span><\/p>\n<p style=\"text-align: justify;\">Key Amendments:<\/p>\n<p style=\"text-align: justify;\">\n<ul style=\"text-align: justify;\">\n<li><span id=\"page1R_mcid506\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">F<\/span><\/span><span id=\"page1R_mcid510\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">or rule 3, the following rule shall be substituted: <\/span><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 40px; text-align: justify;\"><span id=\"page5R_mcid0\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">\u201c3. An amount equivalent to forty per cent of the Fund corpus shall be placed at the disposal of the <\/span><span dir=\"ltr\" role=\"presentation\">Secretary, <\/span><span dir=\"ltr\" role=\"presentation\">Ministry <\/span><span dir=\"ltr\" role=\"presentation\">of <\/span><span dir=\"ltr\" role=\"presentation\">Finance, <\/span><span dir=\"ltr\" role=\"presentation\">Department <\/span><span dir=\"ltr\" role=\"presentation\">of <\/span><span dir=\"ltr\" role=\"presentation\">Expenditure <\/span><span dir=\"ltr\" role=\"presentation\">for <\/span><span dir=\"ltr\" role=\"presentation\">the <\/span><span dir=\"ltr\" role=\"presentation\">purpose <\/span><span dir=\"ltr\" role=\"presentation\">of <\/span><span dir=\"ltr\" role=\"presentation\">meeting <\/span><span dir=\"ltr\" role=\"presentation\">unforeseen <\/span><span dir=\"ltr\" role=\"presentation\">expenditure, and beyond this limit, all further Contingency<\/span> <span dir=\"ltr\" role=\"presentation\">Fund releases shall be made with the approval of <\/span><span dir=\"ltr\" role=\"presentation\">Secretary to the Government of India, Department of Economic Affairs, after the approval of Secretary to <\/span><span dir=\"ltr\" role=\"presentation\">the Government of India, Department of Expenditure.\u201d<\/span> <\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span id=\"page5R_mcid11\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">\u00a0For Rule 5, the following rule shall be substituted:<\/span><\/span><span id=\"page5R_mcid12\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">\u201c5. <\/span><span dir=\"ltr\" role=\"presentation\">Applications<\/span> <span dir=\"ltr\" role=\"presentation\">for<\/span> <span dir=\"ltr\" role=\"presentation\">advances<\/span> <span dir=\"ltr\" role=\"presentation\">required shall be made to the Secretary to the Government of India, Department of <\/span><span dir=\"ltr\" role=\"presentation\">E<\/span><span dir=\"ltr\" role=\"presentation\">xpenditure and applications for advances of new loans shall be made to the Secretary to the Government of India, <\/span><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">Department of Economic Affairs, in the manner provided for in rule 4.\u201d<\/span> <\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\">\n<ul style=\"text-align: justify;\">\n<li><span id=\"page5R_mcid13\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">For rule 7, the following rule shall be substituted, namely: <\/span><\/span><span id=\"page5R_mcid14\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">\u201c7<\/span><span dir=\"ltr\" role=\"presentation\">. A<\/span> <span dir=\"ltr\" role=\"presentation\">copy<\/span> <span dir=\"ltr\" role=\"presentation\">of<\/span> <span dir=\"ltr\" role=\"presentation\">the<\/span> <span dir=\"ltr\" role=\"presentation\">order<\/span> <span dir=\"ltr\" role=\"presentation\">sanctioning<\/span> <span dir=\"ltr\" role=\"presentation\">the<\/span> <span dir=\"ltr\" role=\"presentation\">adva<\/span><span dir=\"ltr\" role=\"presentation\">nce,<\/span> <span dir=\"ltr\" role=\"presentation\">which<\/span> <span dir=\"ltr\" role=\"presentation\">shall<\/span> <span dir=\"ltr\" role=\"presentation\">specify<\/span> <span dir=\"ltr\" role=\"presentation\">the<\/span> <span dir=\"ltr\" role=\"presentation\">amount,<\/span> <span dir=\"ltr\" role=\"presentation\">the<\/span> <span dir=\"ltr\" role=\"presentation\">grant<\/span> <span dir=\"ltr\" role=\"presentation\">or<\/span> <span dir=\"ltr\" role=\"presentation\">appropriation<\/span> <span dir=\"ltr\" role=\"presentation\">to <\/span><span dir=\"ltr\" role=\"presentation\">which it relates and given brief particulars by sub<\/span><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><span dir=\"ltr\" role=\"presentation\">heads and units of appropriation of the expenditure for\u00a0 <\/span><span dir=\"ltr\" role=\"presentation\">meeting which it is made, shall be for<\/span><span dir=\"ltr\" role=\"presentation\">warded by the Ministry of Finance to the Audit and Accounts Officers\u00a0 <\/span><span dir=\"ltr\" role=\"presentation\">concerned.\u201d<\/span> <\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\">\n<ul>\n<li style=\"text-align: justify;\"><span id=\"page5R_mcid15\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">For sub<\/span><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><span dir=\"ltr\" role=\"presentation\">rule (1) of rule 8, the following sub<\/span><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><span dir=\"ltr\" role=\"presentation\">rule shall be substituted, namely: <\/span>\u00a0<\/span><span id=\"page5R_mcid16\" class=\"markedContent\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">\u201c(1) <\/span><span dir=\"ltr\" role=\"presentation\">All expenditure so financed shall be regularised through the Supplementary Esti<\/span><span dir=\"ltr\" role=\"presentation\">mates presented to Parliament <\/span><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">unless such advance has been resumed to the Contingency Fund in accordance with the provisions of sub<\/span> <span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><span dir=\"ltr\" role=\"presentation\">rule (2).\u201d<\/span><\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Central Government notified Contingency Fund of India (Amendment) Rules, 2021 to amend the Contingency Fund of India Rules, 1952. Key Amendments: <\/p>\n","protected":false},"author":8808,"featured_media":154904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[],"class_list":["post-255362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Contingency Fund of India (Amendment) Rules, 2021 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2021\/10\/08\/contingency-fund-of-india-amendment-rules-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Contingency Fund of India (Amendment) Rules, 2021\" \/>\n<meta property=\"og:description\" content=\"The Central Government notified Contingency Fund of India (Amendment) Rules, 2021 to amend the Contingency Fund of India Rules, 1952. 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Computation of exempt income of specified fund for the purposes of clause (23FF) of section\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-182.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":214252,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/05\/02\/investor-education-and-protection-fund-authority-accounting-audit-transfer-and-refund-amendment-rules-2019-notified\/","url_meta":{"origin":255362,"position":1},"title":"Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2019 &#8212; Notified","author":"Bhumika Indulia","date":"May 2, 2019","format":false,"excerpt":"G.S.R. 343(E)\u2014In exercise of the powers conferred by sub-sections (1), (2), (3), (4), (8), (9), (10) and (11) of Section 125 and sub-section (6) of Section 124, read with Section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, further to amend\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":265267,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/04\/09\/infrastructure-debt-fund-guidelines-modified-vide-income-tax-8th-amendment-rules-2022\/","url_meta":{"origin":255362,"position":2},"title":"Infrastructure Debt Fund guidelines modified vide Income-tax (8th Amendment) Rules, 2022","author":"Prachi Bhardwaj","date":"April 9, 2022","format":false,"excerpt":"On 6th April, 2022, Ministry of Finance notified Income Tax (8th Amendment) Rule, 2022. This amendment aims to amend the guidelines of Infrastructure Debt Fund in the parent rules of Income Tax Rules, 1961. The 8th amendment will be in force with immediate effect. Key Points of Amendments: Rule 2-F\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/03\/MicrosoftTeams-image-126.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/03\/MicrosoftTeams-image-126.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/03\/MicrosoftTeams-image-126.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/03\/MicrosoftTeams-image-126.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/03\/MicrosoftTeams-image-126.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":7051,"url":"https:\/\/www.scconline.com\/blog\/post\/2014\/07\/31\/companies-management-and-administration-second-amendment-rules-2014\/","url_meta":{"origin":255362,"position":3},"title":"Companies (Management and Administration) Second Amendment Rules, 2014","author":"Sucheta","date":"July 31, 2014","format":false,"excerpt":"The Central Government makes Companies (Management and Administration) Second Amendment Rules, 2014 with a view to amend Companies (Management and Administration) Rules, 2014. The said Rules will come into force on the date of their publication in the Official Gazette.\u00a0 In the Companies (Management and Administration) Rules, 2014,\u2014 In Rule\u2026","rel":"","context":"In &quot;Foreign Legislation&quot;","block_context":{"text":"Foreign Legislation","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/foreign\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":249520,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/06\/10\/investor-education-and-protection-fund-authority-accounting-audit-transfer-and-refund-amendment-rules-2021\/","url_meta":{"origin":255362,"position":4},"title":"Investor Education and Protection Fund Authority (Accounting,  Audit, Transfer and Refund) Amendment Rules, 2021","author":"Bhumika Indulia","date":"June 10, 2021","format":false,"excerpt":"The Central Government hereby makes the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2021, further to amend the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, namely The following shall be inserted in the Investor Education and Protection Fund\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/MCA.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/MCA.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/MCA.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/MCA.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/MCA.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":253569,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/09\/02\/cbdt-calculation-of-taxable-interest-relating-to-provident-fund-transactions-prescribed-vide-income-tax-25th-amendment-rules-2021\/","url_meta":{"origin":255362,"position":5},"title":"CBDT | Calculation of taxable interest relating to provident fund transactions prescribed vide Income Tax (25th Amendment) Rules, 2021","author":"Prachi Bhardwaj","date":"September 2, 2021","format":false,"excerpt":"The Central Board of Direct Taxes has passed Income Tax (25th Amendment) Rules, 2021 on August 31, 2021. The Income Tax (25th Amendment) Rules, 2021 shall come into force on April 1, 2022. The Amendment inserts Rule 9D prescribing calculation of taxable interest relating to contribution in a provident fund,\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"CBDT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/255362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=255362"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/255362\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/154904"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=255362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=255362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=255362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}