Pattern of investment by public funds
The Central Government had specified by notification no. F.5(53)/2002-ECB & PR dated the 24th January, 2005, the pattern of investment to be made by recognized provident funds, approved superannuating funds and approved gratuity funds. The notification has come into force on the 1st day of April, 2005. Rule 67 of the Income-tax Rules, 1962 contains provisions relating to investment of fund moneys in the manner specified from time to time by the Department of Economic Affairs. The rules are amended retrospectively to prescribe the pattern of investment. The Board has certified that the retrospective operation of this notification shall not prejudicially affect the interests of the assesses