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[Forms or modes of investment or deposits by a charitable or religious trust or institution. 17C . The forms and modes of investment or deposits under clause (xii) of sub-section (5) of section 11 shall be the following, namely :— (i) investment in the units issued under any scheme of the mutual fund referred to in clause (23D) of section 10 of the Income-tax Act, 1961; [* * *] (ii) any transfer of deposits to the Public Account of India;] [(iii) deposits made with an authority constituted in India by or under any law enacted either for the purpose of dealing with and satisfying the need for housing accommodation or for the purpose of planning, development or improvement of cities, towns and villages, or for both;] [(iv) investment by way of acquiring equity shares of a depository as defined in clause (e) of sub-section (1) of section 2 of the Depositories Act, 1996 (22 of 1996);] [(v) investment made by a recognised stock exchange referred to in clause (f) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) (hereafter referred to as investor) in the equity share capital of a company (hereafter referred to as investee)— (A) which is engaged in dealing with securities or mainly associated with the securities market; (B) whose main object is to acquire the membership of another recognised stock exchange for the sole purpose of facilitating the members of the investor to trade on the said stock exchange through the investee in accordance with the directions or guidelines issued under the Securities and Exchange Board of India Act, 1992 (15 of 1992) by the Securities and Exchange Board of India established under section 3 of that Act; and (C) in which at least fifty-one per cent of equity shares are held by the investor and the balance equity shares are held by members of such investor;] 1[(va) investment made by a person, authorised under section 4 of the Payment and Settlement Systems Act, 2007, in the equity share capital or bonds or debentures of a company — (A) which is engaged in operations of retail payments system or digital payments settlement or similar activities in India and abroad and is approved by the Reserve Bank of India for this purpose; and (B) in which at least fifty-one per cent of equity shares are held by National Payments Corporation of India.] 2[(vb) investment made by a person, authorised under section 4 of the Payment and Settlement Systems Act, 2007 (51 of 2007), in the equity share capital or bonds or debentures of Open Network for Digital Commerce Ltd, being a company incorporated under sub-section (2) of section 7 read with sub-section (1) of section 8 of the Companies Act, 2013 (18 of 2013), for participating in network based open protocol models which enable digital commerce and interoperable digital payments in India.] [(vi) investment by way of acquiring equity shares of an incubatee by an incubator. Explanation.—For the purposes of this clause,— (a) "incubatee" shall mean such incubatee as may be notified by the Government of India in the Ministry of Science and Technology; (b) "incubator" shall mean such Technology Business Incubator or Science and Technology Entrepreneurship Park as may be notified by the Government of India in the Ministry of Science and Techno-logy;] [(vii) investment by way of acquiring shares of National Skill Development Corporation;] [(viii) investment in debt instruments issued by any infrastructure Finance Company registered with the Reserve Bank of India; ] [(ix) investment in "Stock Certificate" as defined in clause (c) of paragraph 2 of the Sovereign Gold Bonds Scheme, 2015, published in the Official Gazette vide notification number G.S.R. 827(E), dated the 30th October, 2015.] 3[(x) investment by way of acquiring units of POWERGRID Infrastructure Investment Trust.] NOTES- 1.Inserted by the Income-tax (7th Amendment) Rules, 2020) .Notification dated 5th March 2020-(w.e.f date of their publication in the Official Gazette) 2. Inserted by the Income-tax (10th Amendment) Rules, 2022 Notification No. 42/2022 dated 22.04.2022. 3. Inserted by the Income-tax (Twenty-Eighth Amendment) Rules, 2023 Notification No. 103/2023 dated 18.12.2023
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