INCOME-TAX RULES, 1962
(1) These rules may be called the Income-tax Rules, 1962.
(2) They shall come into force on the 1st day of April, 1962.
(1) In these rules, unless the context otherwise requires,--
(a) "Act" means the Income-tax Act, 1961 (43 of 1961);
(aa) "authorised bank" means any bank as may be appointed by the Reserve Bank of India as its agent under the provisions of subsection (1) of section 45 of the Reserve Bank of India Act, 1934 (2 of 1934);
(b) "Chapter", "section" and "Schedule" means respectively Chapter and section of, and Schedule to, the Act.
(2) All references to "Forms" in these rules shall be construed as references to the forms set out in Appendix II hereto.
The amount which is not to be included in the total income of an assessee in respect of the special allowance referred to in clause (13A) of section 10 shall be--
(a) the actual amount of such allowance received by the assessee in respect of the relevant period; or
(b) the amount by which the expenditure actually incurred by the assessee in payment of rent in respect of residential accommodation occupied by him exceeds one-tenth of the amount of salary due to the assessee in respect of the relevant period; or
(c) an amount equal to--
(i) where such accommodation is situate at Bombay, Calcutta, Delhi or Madras, one-half of the amount of salary due to the assessee in respect of the relevant period; and
(ii)
(1) The amount exempted under clause (5) of section 10 in respect of the value of travel concession or assistance received by or due to the individual from his employer or former employer for himself and his family, in connection with his proceeding,--
(a) on leave to any place in India;
(b) to any place in India after retirement from service or after the termination of his service;
shall be the amount actually incurred on the performance of such travel subject to the following conditions, namely :--
1[(i) where the journey is performed on or after the 1st day of October, 1997, by air, an amount not exceeding the air economy fare of the national carrier by the shortest route to the place of destination;
The amount received by an employee of
(i) a public sector company; or
(ii) any other company; or
(iii) an authority established under a Central, State or Provincial Act; or
(iv) a local 2[authority; or]
3[(v) a co-operative society; or
(vi) a University established or incorporated by or under a Central, State or Provincial Act and an institution declared to be a University under section 3 of the University Grants Commission Act, 1956 (3 of 1956); or
(vii) an Indian Institute of Technology within the meaning
(1) For the purposes of sub-clause (i) of clause (14) of section 10, prescribed allowances, by whatever name called, shall be the following, namely:--
(a) any allowance granted to meet the cost of travel on tour or on transfer;
(b) any allowance, whether, granted on tour or for the period of journey in connection with transfer, to meet the ordinary daily charges incurred by an employee on account of absence from his normal place of duty;
(c) any allowance granted to meet the expenditure incurred on conveyance in performance of duties of an office or employment of profit :
Provided that free conveyance is not provided by the employer;
(d) any allowance granted to meet the expenditure incurred on a helper w
(1) For the purposes of clause (19) of section 10, the circumstances of death of a member of the armed forces (including para-militray forces) of the Union in the course of operational duties shall be the following, namely :-
(i) acts of violence or kidnepping or attacks by terrorists or anti-social elements;
(ii) action against extremists or anti-social elements;
(iii) enemy action in international war;
(iv) action during deployment with a peace keeping mission abroad;
(v) border skirmishes;
(vi) laying or clearance of mines including enemy mines as also mine sweeping operations;
(vii) explosions of mines wh
1[Amount of annual receipts for the purposes of sub-clauses (iiiad) and (iiiae) of clause (23C) of section 10.
(1) For the purposes of sub-clause (iiiad) of clause (23C) of section 10, the amount of annual receipts on or after the 1st day of April, 1998, of any university or other educational institution, existing solely for educational purposes and not for purposes of profit, shall be one crore rupees.
(2) For the purposes of sub-clause (iiiae) of clause (23C) of section 10, the amount of annual receipts on or after the 1st day of April, 1998, of any hospital or other institution for the reception and treatment of persons suffering from illness or mental defectiveness or for the reception and treatment of persons during convalescence or of persons requiring medical attention or rehabilitation, existing solely for philanthropic purposes
(1) The prescribed authority under sub-clauses (iv) and (v) of clause (23C) of section 10 shall be the Chief Commissioner or Director General, to whom the application shall be made as provided in sub-rule (2).
(2) The application to be furnished under sub-clauses (iv) and (v) of clause (23C) of section 10 by a fund, trust or institution shall be in Form No. 56.
Explanation. For the purposes of this rule, Chief Commissioner or Director General means the Chief Commissioner or Director General whom the Central Board of Direct Taxes may, authorise to act as prescribed authority for the purposes of sub-clause (iv) or sub-clause (v) of clause (23C) of section 10 in relation to any fund or trust or institution.]
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(1) The prescribed authority under sub-clauses (vi) and (via) of clause (23C) of section 10 shall be the Chief Commissioner or Director General, to whom the application shall be made as provided in sub-rule (2).
(1A) The prescribed authority under sub-clauses (vi) and (via) of clause (23C) of section 10 shall be the Central Board of Direct Taxes constituted under the Central Boards of Revenue Act, 1963 (54 of 1963) for applications received prior to 3rd day of April, 2001.
3[Provided that in case of applications received prior to 3rd day of April, 2001 where no order has been passed granting approval or rejecting the application as on 31st day of May, 2007, the prescribed authority under sub-clauses (vi) and (via) of clause (23C) of section 10 shall be the Chief Commissioner or Director General.]
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.(1) For the purposes of clause (23F) of section 10, the prescribed authority shall be the Director of Income-tax (Exemptions) having jurisdiction over the venture capital fund or the venture capital company who makes application for approval under sub-rule (2).
(2) An application for approval shall be made in Form No.56A by a venture capital fund or a venture capital company to the Director of Income-tax (Exemptions) referred to in sub-rule (1).
(3) Every application under sub-rule (2) may be made in any previous year in which any income by way of dividend or long-term capital gains of a venture capital fund or a venture capital company from investments made by way of equity shares in a venture capital undertaking shall not be included in computing the total income of such venture capital fund or venture capital company.
.(1) An application for approval shall be made in Form No. 56AA by a venture capital fund or a venture capital company to the Central Government.
(2) Every application under sub-rule (1) may be made in any previous year in which any income by way of dividend or long-term capital gains of a venture capital fund or a venture capital company from investments made by way of equity shares in a venture capital undertaking shall not be included in computing the total income of such venture capital fund or venture capital company.
(3) Every application for approval under sub-rule (1) shall be accompanied by the following documents, namely :--
(a) A copy of the trust deed registered under the provision of the Registration Act, 1908 or a certificate of incorporation under the Companies Act, 1956 (1 of 1
(1) An application for approval shall be made on or after the 1st day of June 1998 in Form No. 56E by an enterprise to the Central Government.
(2) Every application for approval made under sub-rule (1) shall be accompanied by the following documents, namely:
(a) a copy of certificate of incorporation under the Companies Act, 1956 (1 of 1956) or a copy of the document evidencing the constitution of the enterprise and its legal status;
(b) a copy of the project report or agreement in respect of the eligible business duly approved by the Central Government or any State Government or any local authority or any other statutory body, as the case may be;
(c) balance sheets and profit and loss accounts for the three previous years immediately pr
20[For the purpose of computing the income chargeable under the head Salaries, the value of perquisites provided by the employer directly or indirectly to the assessee (hereinafter referred to as employee) or to any member of his household by reason of his employment shall be determined in accordance with the following sub-rules, namely:-
(1) The value of residential accommodation provided by the employer during the previous year shall be determined on the basis provided in the Table below :-
TABLE - I
Sl.
No. Circumstances Where accommodation is unfurnished Where accommodation is furnished
(1) (2) (3) (4)
(1) Where the accommodation is provided by the Central
(1) 2[In granting approval to any hospital other than a hospital for Indian system of medicine and homoeopathic treatment for the purposes of sub-clause (b) of clause (ii) of the proviso to sub-clause (vi) of clause (2) of section 17], the Chief Commissioner shall satisfy himself that the hospital is registered with the local authority and fulfils the following requirements, namely :--
(i) The building used for the hospital complies with the municipal bye-laws in force.
(ii) The rooms are well ventilated, lighted and are kept in clean and hygienicconditions.
(iii) At least ten iron spring beds are provided for patients. (iv) At least one properly equipped operation theatre is provided, with minimum floor space of 180 square feet and with a separate sterilization room.
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For the purposes of the Explanation below sub-section (1) of section 23, the amount of rent which the owner cannot realise shall be equal to the amount of rent payable but not paid by a tenant of the assessee and so proved to be lost and irrecoverable where,-
a) the tenancy is bona fide;
b) the defaulting tenant has vacated, or steps have been taken to compel him to vacate the property;
c) the defaulting tenant is not in occupation of any other property of the assessee;
d) the assessee has taken all reasonable steps to institute legal proceedings for the recovery of the unpaid rent or satisfies the Assessing Officer that legal proceedings would be useless."
(1) Subject to the provisions of sub-rule (2), the allowance under clause (ii) of subsection (I) of section 32 in respect of depreciation of any block of assets shall be calculated at the percentages specified in the second column of the Table in Appendix I to these rules on the written down value of such block of assets as are used for the purposes of the business or profession of the assessee at any time during the previous year.
1[(1A) The allowance under clause (i) of sub-section (1) of section 32 of the Act in respect of depreciation of assets acquired on or after 1st day of April, 1997 shall be calculated at the percentage specified in the second column of the Table in Appendix IA of these rules on the actual cost thereof to the assessee as are used for the purposes of the business of the assessee at any time during the previous year :
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1[5A. -Form of report by an accountant for claiming deduction under section 32(1)(iia)
The report from an accountant which is required to be furnished by the assessee under the third proviso to clause (iia) of sub-section (1) of section 32 shall be in Form No. 3AA.]
1. Inserted by IT (Fourteenth Amdt.) Rules, 2002 w.e.f 1.04.2003
For the purposes of sub-section (2B) of section 32A, the "prescribed authority" shall be the Secretary, Department of Scientific and Industrial Research, Government of India.
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1 Rule 5A renumbered as Rule 5AA by IT (Fourteenth Amendment.) Rules, 2002 w.e.f. 01.04.2003.
The report of audit of the accounts of an assessec, which is required to be furnished under sub-section (5) of section 32AB shall be in 1[Form No. 3AAA].
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1. Substituted for Form No. 3AA by IT (Fourteenth Amdt.) Rules w.e.f. 1.04.2003.
The report of audit of the accounts of an assesses, which is required to be furnished under sub-section (2) of section 33AB. shall be in Form No. 3AC.]
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1. Inserted by the IT (Second Amendment) Rules, 1992, w.e.f. 14-1-1992.
The report of audit of the accounts of an assesses, which is required to be furnished under sub-section (2) of section 33ABA, shall be in Form No. 3AD.]
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1. Inserted by the IT (Twenty-fourth Amdt.) Rules, 1999, w.e.f. 30-6-1999.
The deduction to be allowed by way of development rebate in respect of any ship or machinery or plant referred to in sub-section (1A) of section 33 shall be a sum equivalent to--
(a) in the case of any such ship--
(i) where the ship is acquired by the assessee at any time before the expiry of seven years from the date she was built, thirty per cent of the actual cost of the ship to the assessee ; and
(ii) in any other case, twenty per cent of the actual cost of the ship to the assessee;
(b) in the case of any such machinery or plant installed after the 31st day of March, 1964--
(i) where it is installed before the 1st day of April, 1966, for the purposes of business of mining coal, twenty per cent of the
(1) An application for approval,
(i) under clause (ii) 5[or clause (iii)] of sub-section (1) of section 35 by a 4[***] research association in duplicate in Form No. 3CF-I;
(ii) under clause (ii) or clause (iii) of sub-section (1) of section 35 by a university, college or other institution in duplicate in Form No. 3CF-II shall be made, at any time during the financial year immediately preceding the assessment year from which the approval is sought, to the Commissioner of Income-tax or the Director of Income-tax having jurisdiction over the applicant.
(2) Annexure to the application in Form No. 3CF-I shall be filled out if the association claims exemption under clause (21) of section 10 of the Income-tax Act.
(3) The applicant shall send a copy of the
(1) The sole object of the applicant research association shall be to undertake scientific research or research in social science or statistical research as the case may be.]
(2) The applicant research association shall carry on the research activity by itself.
(3) The research association seeking approval under clause (ii) or clause (iii) of sub-section (1) of section 35 shall maintain books of account and get such books audited by an accountant as defined in the Explanation to sub-section (2) of section 288 and furnish the report of such audit duly signed and verified by such accountant to the Commissioner of Income-tax or the Director of Income-tax having jurisdiction over the case, by the due date of furnishing the return of income under sub-section (1) of section 139.
(4) The research ass
(1) The sum paid to a university, college or other institution shall be used for scientific research and research in social science or statistical research.
(2) The applicant university, college or other institution shall carry out scientific research, research in social science or statistical research through its faculty members or its enrolled students.
(3) A university or college or other institution approved under clause (ii) or clause (iii) of sub-section (1) of section 35 shall maintain separate books of account in respect of the sums received by it for scientific research or, as the case may be, for research in social science or statistical research, reflect therein the amount used for carrying out research, get such books of account audited by an accountant, as defined in the Explanation to sub-section (2) of section 288 and furn
(1) For the purposes of clause (iia) of sub-section (1) of section 35, the prescribed authority shall be the Chief Commissioner of Income -tax having jurisdiction over the applicant.
(2) Guidelines, form and manner in respect of approval under clause (iia) of sub-section (1) of section 35 shall be as under:
(a) An application for approval under clause (iia) of sub-section (1) of section 35 by a company shall be made in duplicate in Form No. 3CF-III, to the Commissioner of Income -tax having jurisdiction over the applicant, at any time during the financial year immediately preceding the assessment year from which the approval is sought.
(b) The applicant shall send a copy of the application in Form No. 3CF-III to the prescribed authority, accompanied by the acknowledgement receipt as evidence
(1) For the purposes of [2[clause (i) of]sub-section (1) and sub-section (2A) of] section 35, the prescribed authority shall be the Director General (Income-tax Exemptions) in concurrence with the Secretary, Department of Scientific and Industrial Research, Government of India.
13[(1A) For the purposes of sub-section (2AA) of section 35, the prescribed authority shall be-
(a) in the case of a National Laboratory or a University or an Indian Institute of Technology the head of the National Laboratory or the University or the Indian Institute of Technology, as the case may be; and
(b) in the case of a specified person, the Principal Scientific Adviser to the Government of India.]
3[(1B) For the purposes of sub-section (2AB) of section 35,
Omitted by the IT (Thirty-second Amdt) Rules, 1999, w.e.f. 19-11-1999.
For the purposes of sections 35CC and 35CCA,--
(i) the "prescribed authority" to approve the programme of rural development referred to in sub-section (1) of sections 35CC and in clause (a) of sub-section (1) of section 35CCA shall be the Committee consisting of the following, namely:--
(a) The Chief Commissioner or Commissioner of Income-tax who exercises jurisdiction over the State or, as the case may be, the Union territory in which the programme of rural development is to be carried out--Chairman ;
(b) An officer not below the rank of a Secretary to the Government of the Stale or, as the case may be, the Union territory in which the programme of rural development is to be carried out--Member;
(ii) the "prescribed authority" to approve an associa
For the purposes of section 35CCB, the "prescribed authority" shall be the Secretary, Department of Environment, Government of India.
The report of audit of the accounts of an assessee, other than a company or a co-operative society, which is required to be furnished under sub-section (4) of sections 35D or sub-section (6) of section 35E shall be in 1[Form No. 3AE]
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1. Substituted by Income-tax (11th Amendment) Rules, 2006 for the words " Form No. 3B"
For the purposes of clause (viia) of sub-section (1) of section 36, the aggregate average advances made by the rural branches of a scheduled bank shall be computed in the following manner, namely :--
(a) the amounts of advances made by each rural branch as outstanding at the end of the last day of each month comprised in the previous year shall be aggregated separately ;
(b) the sum so arrived at in the case of each such branch shall be divided by the number of months for which the outstanding advances have been taken into account for the purposes of clause (a) ;
(c) the aggregate of the sums so arrived at in respect of each of the rural branches shall be the aggregate average advances made by the rural branches of the scheduled bank.
Explanation :
The conditions to be fulfilled by a public facility to be eligible to be notified as an infrastructure facility in accordance with the provisions of clause (d) of the Explanation to clause (viii) of sub-section (1) of section 36 shall be the following, namely:
(a) it is owned by a company registered in India or by a consortium of such companies or by an authority or a board or a corporation or any other body established or constituted under any Central or State Act;
(b) it has entered into an agreement with the Central Government or a State Government or a local authority or any other statutory body for (i) developing or (ii) operating and maintaining or (iii) developing, operating and maintaining a new infrastructure facility similar in nature to an infrastructure facility referred to in the Explanation to clause (i) of sub-section (4)
The report of an accountant, which is required to be furnished under clause (xi) of sub-section (1) of section 36.shall be in Form No. 3BA.]
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1. Inserted by the IT (Twentieth Amendment) Rules, 1999, w,e.f. 1-4-2000.
Cases and circumstances in which a payment or aggregate of payments exceeding twenty thousand rupees may be made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft. 6DD. No disallowance under sub-section (3) of section 40A shall be made and no payment shall be deemed to be the profits and gains of business under sub-section (3A) of section 40A where a payment or aggregate of payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft, exceeds twenty thousand rupees in the case and circumstances specified hereunder, namely:-
(a) where the payment is made to-
(i) the Reserve Bank of India of any banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949);
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For the purposes of clause (d) of proviso to clause (5) of Section 43, a stock exchange shall fulfil the following conditions in respect of trading in derivatives, namely:--
(i) the stock exchange shall have the approval of the Securities and Exchange Board of India established under the Securities and Exchange Board of India Act, 1992 (15 of 1992) in respect of trading in derivatives and shall function in accordance with the guidelines or conditions laid down by the Securities and Exchange Board of India;
(ii) the stock exchange shall ensure that the particulars of the client (including unique client identity number and PAN) are duly recorded and stored in its databases;
(iii) the stock exchange shall maintain a complete audit trail of all transactions (in respect of cash and derivative marke
(1) An application for notification of a stock exchange as a recognised stock exchange for the purposes of clause (d) of proviso to clause (5) of Section 43 may be made to the Member(L), Central Board of Direct Taxes, North Block, New Delhi-110 001.
(2) The application referred to in sub-rule (1) shall be accompanied with the following documents, namely:--
(i) approval granted by Securities and Exchange Board of India for trading in derivatives;
(ii) up-to-date rules, bye-laws and trading regulations of the stock exchange;
(iii) confirmation regarding fulfilling the conditions referred to in clause (ii) to 2[clause (v)] of rule 6DDA; (iv) such other information as the stock exchange may like to place before the Central Government.
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In the computation of profits and gains of any business of insurance other than life insurance, the amount carried over to a reserve for unexpired risks including any amount carried over to any such additional reserve which is to be allowed as a deduction under clause (c) of rule 5 of the First Schedule, shall not exceed
2[(a) where the insurance business relates to fire insurance or engineering insurance and which provides insurance for terrorism risks, 100 per cent of the net premium income of such business of the previous year;
(aa) where the insurance business relates to fire insurance or miscellaneous insurance other than the insurance business covered under clause (a), 50 per cent of the net premium income of such business of the previous year;]
(b) where the insurance business relates
The provisions of section 43D shall apply in the case of every public financial institution, scheduled bank, State financial corporation and State industrial investment corporation where its income by way of interest pertains to the following categories of bad and doubtful debts, namely:--
(a) (i) Non-viable or sticky advances, i.e., where irregularities of the nature specified in sub-clause (ii) are noticed in the accounts of the borrowers for a period of six months and more and there are no minimum prospects of regularisation of accounts, or where the accounts or information in relation to such accounts reflect usual signs of sickness, such as,--
(1) apparent stagnation in the business as a result of the slow or negligible turnover;
(2) frequent requests for overdrawing or issue of cheq
The provisions of clause (b) of section 43D shall apply in the case of every public company where its income by way of interest pertains to the following categories of bad and dobtful debts, namely :--
(a) (i) doubtful asset, that is, a debt which has remained a non-performing asset of the nature specified in sub-clause for a period exceeding two years;
(ii) Non-performing asset referred to in sub-clause (i) shall be the following:--
(1) term loan beyond one year, if the interest amount remains 'past due' for six months or instalment is overdue for more than six months;
(2) lease rental or hire purchase instalment, if the rental or the instalment is 'past due' for six months;
(3) bill purchased or disco
Books of account and other documents to be kept and maintained under section 44AA(3) by persons carrying on certain professions.
(1) Every person carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or authorised representative or film artist shall keep and maintain the books of account and other documents specified in sub-rule (2) :
1[Provided that nothing in this sub-rule shall apply in relation to any previous year in the case of any person if his total gross receipts in the profession do not exceed one lakh fifty thousand rupees in any one of the three years immediately preceding
the previous year, or, where the profession has been newly set up in the previous year, his total gross receipts i
(1) The report of audit of the accounts of a person required to be furnished under, section 44AB shall,--
(a) in the case of a person who carries on business or profession and who is required by or under any other law to get his accounts audited, be in Form No. 3CA;
(b) in the case of a person who carries on business or profession, but not being a person referred to in clause (a), be in Form No. 3CB.
(2) The particulars which are required to be furnished under section 44AB shall be in Form No. 3CD.
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1. Substituted by the IT (Fourteenth Amdt.) Rules, 1999, w.e.f. 4-6-1999. Prior to its substitution, rule 6F, as inserted by the IT
The report of audit of accounts of the non-resident (not being a company) or a foreign company, which is required to be furnished under sub-section (2) of section 44DA shall be in Form No. 3CE.]
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1. Inserted vide the Income-tax (Twenty-Seventh Amendment) Rules, 2003 w.e.f. 20.11.2003
The report of an accountant which is required to be furnished by every assessee along with the return of income, in case of slump sale, under sub-section (3) of section 50B. shall be in Form No. 3 CEA.]
(1) In the case of income which is partially agricultural income as defined in section 2 and partially income chargeable to income-tax under the head 'Profits and gains of business", in determining that part which is chargeable to income-tax the market value of any agricultural produce which has been raised by the assessee or received by him as rent-in-kind and which has been utilised as a raw material in such business or the sale receipts of which are included in the accounts of the business shall he deducted, and no further deduction shall be made in respect of any expenditure incurred by the assesses as a cultivator or receiver of rent-in-kind.
(2) For the purposes of sub-rule (1) "market value" shall be deemed to be:--
(a) where agricultural produce is ordinarily sold in the market in its raw state, or after application to it of any
2[(1) Income derived from the sale of centrifuged latex or cenex or latex based crepes (such as pale latex crepe) or brown crepes (such as estate brown crepe, re-milled crepe, smoked blanket crepe or flat bark crepe) or technically specified block rubbers manufactured or processed from field latex or coagulum obtained from rubber plants grown by the seller in India shall be computed as if it were income derived from business, and thirty-five per cent of such income shall be deemed to be income liable to tax.]
(2) In computing such income, an allowance shall be made in respect of the cost of planting rubber plants in replacement of plants that have died or became permanently useless in an area already planted, if such area has not previously been abandoned, and for the purpose of determining such cost, no deduction shall be made in respect of the amount of any subsidy which, under t
2[(1) Income derived from the sale of coffee grown and cured by the seller in India shall be computed as if it were income derived from business, and twenty-five per cent of such income shall be deemed to be income liable to tax.
(1A) Income derived from the sale of coffee grown, cured, roasted and grounded by the seller in India, with or without mixing chicory or other flavouring ingredients, shall be computed as if it were income derived from business, and forty per cent of such income shall be deemed to be income liable; to tax.
Explanation: For the purposes of sub-rules (1) and (1A) curing shall have the same meaning as assigned to it in sub-section (d) of section 3 of the Coffee Act, 1942 (7 of 1942).]
(2) 3[In computing the incomes referred to in sub-rules (1) and (1A)], an allowance sha
(1) Income derived from the sale of lea grown and manufactured by the seller in India shall be computed as if it were income derived from business, and forty per cent of such income shall be deemed to be income liable to tax.
(2) In computing such income an allowance shall be made in respect of the cost of planting bushes in replacement of bushes that have died or become permanently useless in an area already planted, if such area has not previously been abandoned , and for the purpose of determining such cost, no deduction shall be made in respect of the amount of any subsidy which, under the provisions of clause (30) of section 10, is not includible in the total income.
The other conditions referred to in clause (iii) of sub-section (3) of section 33A shall be the following, namely:--
(a) the assessee shall, at least three months before commencing the operations for planting or, as the case may be, replanting tea bushes, give notice of his intention to do so to the Tea Board in writing in Form No. 4:
Provided that in a case where such operations have commenced before the 1st day of January, 1968, this condition shall be deemed to have been fulfilled if notice of such commencement is given by the assessee before the 1st day of February, 1968;
(b) the assessee shall afford the Tea Board or such other person or agency as may be authorised in writing by the Tea Board in this behalf, every reasonable facility to enter upon and inspect the area under planting or
1[8B. (1) Guidelines for notification of zero coupon bond. An application by an infrastructure capital company or infrastructure capital fund or a public sector company for notification under clause (48) of section 2 of any zero coupon bond proposed to be issued by it shall be made in Form No. 5B at least three months before the date of issue of such bond:
Provided that an application shall not be made for notification of a bond to be issued after two financial years following the financial year in which the application is made.
(2) Every application, under sub-rule (1), shall be accompanied by the following documents, namely:
(i) where the application is made by any infrastructural capital company or a public sector company, being a government company as defined in section 617 of the Compani
For the purposes of clause (iiia) of sub-section (1) of section 36, the pro rata amount of discount on a zero coupon bond shall be computed in the following manner, namely:
(a) the period of the life of the bond shall be converted into number of calendar months and, for this purpose, where the calendar month in which the bond is issued or the bond matures or is redeemed contains a part of a calendar month then, if such part is fifteen days or more than fifteen days, it shall be increased to one calendar month and if such part is less than fifteen days it shall be ignored;
(b) the amount of discount shall be divided by the number of calendar months determined in accordance with clause (a);
(c) where one or more than one calendar month out of calendar months determined in accordance with clause
(1) Where the Assessing Officer, having regard to the accounts of the assessee of a previous year, is not satisfied with-
(a) the correctness of the claim of expenditure made by the assessee; or
(b) the claim made by the assessee that no expenditure has been incurred, in relation to income which does not form part of the total income under the Act for such previous year, he shall determine the amount of expenditure in relation to such income in accordance with the provisions of sub-rule (2).
(2) The expenditure in relation to income which does not form part of the total income shall be the aggregate of following amounts, namely:-
(i) the amount of expenditure directly relating to income which does not form part of total income;
(1) Where a claim for an allocation is or has been made under section 12AA of the Indian Income-tax Act, 1922 (11 of 1922), in respect of the amount referred to in that section, it shall be dealt with in the following manner, namely:--
(i) where the time taken by the author of the literary or artistic work in the making thereof is more than twelve but less than twenty-four months, one-half of the amount referred to in the said section shall be included in the total income of the previous year in which the whole amount is received or receivable, and the other half in the total income of the next succeeding previous year; and
(ii) where the time so taken is twenty-four months or more, one-third of the amount referred to in the said section shall be included in the total income of the previous year in which the whole amount is received or
(1) In computing the profits and gains of the business of production of feature films carried on by a person (the person carrying on such business hereafter in this rule referred to as film producer), the deduction in respect of the cost of production of a feature film certified for release by the Board of Film Censors in a previous year shall be allowed in accordance with the provisions of sub-rule (2) to sub-rule (4),
Explanation : In this rule,--
(i) "Board of Film Censors" means the Board of Film Censors constituted under the Cinematograph Act, 1952 (37 of1952);
(ii) "cost of production", in relation to a feature film, means the expenditure incurred on the production of the film, not being-
(a) the expenditure incurred for the preparation of the
(1) In computing the profits and gains of the business of distribution of feature films carried on by a person (the person carrying on such business hereafter in this rule referred to as film distributor), the deduction in respect of the cost of acquisition of a feature film shall be allowed in accordance with sub-rule (2) to sub-rule (4).
Explanation : For the purposes of this rule, "cost of acquisition", in relation to a feature film, means the amount paid by the film distributor to the film producer or to another distributor under an agreement entered into by the film distributor with such film producer or such other distributor, as the case may be for acquiring the rights of exhibition and, where the rights of exhibition have been acquired on a minimum guarantee basis, the minimum amount guaranteed, not being--
(i) the amount of expe
The conditions referred to in clause (iii) of sub-section (2) of section 72A shall be the following, namely :--
(a) the amalgamated company, owning an industrial undertaking of the amalgamating company by way of amalgamation, shall achieve the level of production of at least fifty per cent of the installed capacity of the said undertaking before the end of four years from the date of amalgamation and continue to maintain the said minimum level of production till the end of five years from the date of amalgamation :
Provided that the Central Government, on an application made by the amalgamated company, may relax the condition of achieving the level of production or the period during which the same is to be achieved or both in suitable cases having regard to the genuine efforts made by the amalgamated company to attain the prescribed
In any case in which the Assessing Officer is of opinion that the actual amount of the income accruing or arising to any non-resident person whether directly or indirectly, through or from any business connection in India or through or from any property in India or through or from any asset or source of income in India or through or from any money lent at interest and brought into India in cash or in kind cannot be definitely ascertained, the amount of such income for the purposes of assessment to income-tax may be calculated:--
(i) at such percentage of the turnover so accruing or arising as the Assessing Officer may consider to be reasonable, or
(ii) on any amount which bears the same proportion to the total profits and gains of the business of such person (such profits and gains being computed in accordance with the provisions of the
For the purposes of this rule and rules 10B to 10E,-
(a) uncontrolled transaction means a transaction between enterprises other than associated enterprises, whether resident or non-resident;
(b) property includes goods, articles or things, and intangible property;
(c) services include financial services;
(d) transaction includes a number of closely linked transactions.
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1 Inserted by the I.T. (twenty first Amendmetn) Rules , 2001 w.e.f 21.08.2001
Rule 10(a) of the Income-tax Rules, 1962, serves as a foundational legislative instrument for defining the term "income" under Section 9 of the Income-tax Act, 1961. While the Act itself declares that income derived by a person residing in or来源于 India shall be deemed to accrue or arise in India, Rule 10(a) operationalizes this by explicitly stating that the sale of capital assets, whether transferable or realizable, by any person shall be treated as part of"Income." This rule is critical in bridging the gap between the broad statutory definition and practical application, particularly concerning foreign income and capital gains, ensuring that the tax net captures gains realization regardless of the location of the transaction or the nature of the asset sold ([COMMISSIONER OF INCOME TAX VS QUANTAS AIRWAYS LIMITED, NEW DELHI]).
Rule 10(a) mandates that for the purposes of Section 9, the sale of capital assets by any person shall be deemed to form part of "Income." It functions as an empowering clause that broadens the scope of "Income" beyond mere recurrent profits to include one-off capital realizations. The rule effectively prevents the argument that capital gains falling outside the specific definition of business income in Section 28 should escape the definition of "income" under Section 9. By bringing the sale of capital assets within the purview of "Income," the rule ensures that such transactions attract the provisions of Section 9 relating to income deemed to accrue or arise in India ([COMMISSIONER OF INCOME TAX VS QUANTAS AIRWAYS LIMITED, NEW DELHI]).
To invoke the provisions of Rule 10(a), three essential elements must be established:1. Existence of a Sale: There must be a transfer of capital assets. Mere fluctuation in value without realization does not trigger the rule.2. Nature of Asset: The asset must be a "capital asset" as defined under the Act.3. Concept of Income: The proceeds or realization from the sale must be viewed through the lens of creating wealth, thereby forming part of the concept of "Income" for the previous year. The rule relies on the principle that the sale of capital assets generates returns that fall under the taxable definition of income, even if they do not arise from a business operation ([COMMISSIONER OF INCOME TAX VS QUANTAS AIRWAYS LIMITED, NEW DELHI]).
Rule 10(a) itself does not prescribe a specific penalty for non-compliance, as it acts as an interpretative rule clarifying the definition of "Income." However, violation of the underlying principle leads to penal consequences under the Income-tax Act:* Avoidance of Income Disclosure: If reliance is placed on Rule 10(a) to show that certain amounts form part of income, failing to declare such income is treated under Section 115 (Deemed Income) and attracts penalties for concealment of income or false and misleading statements supporting such claims.* Assessment of Escaped Tax: The revenue can initiate reassessment or recovery proceedings based on the deemed inclusion of capital gains under Rule 10(a). Penalties under Section 271(1)(c) for concealment of income apply if the assessee claims that capital gains are not "income" contrary to Rule 10(a) ([Inter-Asian Footwear Corporation VS Assistant Commissioner of Income-tax, Agra]).* Interest Liability: If income derived from the sale is not declared, interest under Section 234A is levied on the amount of tax evaded due to the failure to recognize the "Income" status mandated by Rule 10(a) ([Bazaloni Group Ltd. VS Commissioner of Income Tax]).
(1) For the purposes of sub-section (2) of section 92C, the arms length price in relation to an international transaction shall be determined by any of the following methods, being the most appropriate method, in the following manner, namely:-
(a) comparable uncontrolled price method, by which,-
(i) the price charged or paid for property transferred or services provided in a comparable uncontrolled transaction, or a number of such transactions, is identified;
(ii) such price is adjusted to account for differences, if any, between the international transaction and the comparable uncontrolled transactions or between the enterprises entering into such transactions, which could materially affect the price in the open market;
(iii) the adjusted price arr
(1) For the purposes of sub-section (1) of section 92C, the most appropriate method shall be the method which is best suited to the facts and circumstances of each particular international transaction, and which provides the most reliable measure of an arms length price in relation to the international transaction.
(2) In selecting the most appropriate method as specified in sub-rule (1), the following factors shall be taken into account, namely:-
(a) the nature and class of the international transaction;
(b) the class or classes of associated enterprises entering into the transaction and the functions performed by them taking into account assets employed or to be employed and risks assumed by such enterprises;
(c) the availability, coverage and re
(1) Every person who has entered into an international transaction shall keep and maintain the following information and documents, namely:-
(a) a description of the ownership structure of the assessee enterprise with details of shares or other ownership interest held therein by other enterprises;
(b) a profile of the multinational group of which the assessee enterprise is a part along with the name, address, legal status and country of tax residence of each of the enterprises comprised in the group with whom international transactions have been entered into by the assessee, and ownership linkages among them;
(c) a broad description of the business of the assessee and the industry in which the assessee operates, and of the business of the associated enterprises with whom the assessee has trans
The report from an accountant required to be furnished under section 92E by every person who has entered into an international transaction during a previous year shall be in Form No. 3CEB and be verified in the manner indicated therein.]
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1 Inserted by the I.T. (twenty first Amdt.) Rules , 2001 w.e.f 21.08.2001.
(Omitted by the I.T. (21st Amendment) Rules, 2001 w.e.f 21.08.2001)
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1. (Omitted by the I.T. (21st Amendment) Rules, 2001 w.e.f 21.08.2001) Prior to its omission it stood as under :
The profits and gains derived from any business carried on in the manner referred to in section 92 may be determined for the purposes of assessment to income-tax according to rule 10.
(1) For the purposes of clause (e) of the Explanation to Sub-section (4) of Section 8ODD and clause (d) of the Explanation to Sub-section (2) of Section 80U, the medical authority for certifying autism, cerebral palsy, multiple disabilities, person with disability and severe disability referred to in clauses (a), (c), (h), (j) and (o) of Section 2 of the National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999 (44 of 1999), shall consist of the following,-
(i) a Neurologist having a degree of Doctor of Medicine (MD) in Neurology (in case of children, a Paediatric Neurologist having an equivalent degree); or
(ii) a Civil Surgeon or Chief Medical Officer in a Government hospital.
(2) For the purposes of Sub-section (4) of Section
(1) The application for approval of any institution or fund under clause (vi) of subjection (5) of section 80G shall be in Form No. 10G and shall be made in triplicate.
(2) The application shall be accompanied by the following documents, namely :--
(i) Copy of registration granted under section 12A or copy of notification issued under section 10(23) or 10(23C) ;
(ii) Notes on activities of institution or fund since its inception or during the last three years, whichever is less ;
(iii) Copies of accounts of the institution or fund since its inception or during the last three years, whichever is less.
(3) The Commissioner may call for such further documents or information from the institution or fund or ca
The deduction to be allowed under section 80GG in respect of any expenditure incurred by an assessee towards payment of rent for any furnished or unfurnished accommodation occupied by him for the purposes of his own residence shall be allowed subject to the condition that the assessee files the declaration in Form No. 10BA.]
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1. Substituted by the IT (Nineteenth Amendment) Rules, 1998 w.e.f. 13-10-1998. Prior to its substitution, rule 11B , as inserted by the IT (Fourth Amendment) Rules, 1976, w.e.f. 2-4-1976 and amended by the IT (Third Amendment) Rules, 1981, read as under:
"11B. Condition for allowance of deduction under section 80 FF.The deduction to be allowed under section 80GG in respect of any expenditure inc
For the purposes of clause (vi) of Explanation 2 to section 80RRA, the prescribed fields shall be,--
(a) the profession of actuaries ;
(b) banking;
(c) insurance; and
(d) journalism,
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1. Prior to its omission, rule 11D, as Substituted by the IT (Third Amendment) Rules, 1992-clauses (i) and (ii) are substituted w.r.e.f. 1-4-1990 and clause (iii) is substituted w.e.f. 1-4-1992 read as under:
For the purposes of section 80U,--
(i) permanent physical disability shall be regarded as a permanent physical disability if it falls in any one of the categories specified below, namely:--
(a) permanent physical disability of more than 50 per cent in one limb; or
(b) permanent physical disability of more than 60 per cent in two or more limbs; or
(c) permanent deafness with hearing impairment of 71 decibels and above; or
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(1) For the purposes of section 8ODDB, the following shall be the eligible diseases or ailments: -
(i) Neurological Diseases where the disability level has been certified to be of 40% and above
(a) Dementia
(b) Dystonia Musculorum Deformans
(c) Motor Neuron Disease
(d) Ataxia
(e) Chorea
(f) Hemiballismus
(g) Aphasia
(h) Parkinsons Disease
(2) The certificate in respect of the diseases or ailments specified in sub-rule (1) shall be issued by the following specialists working
Omitted by the IT (Thirty-second Amendment) Rules, 1999, w.e.f. 19-11-1999.
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1 Prior to its omission, rule 11E, as inserted by the IT (Tenth Amendment) Rules, 1988, w.e.f. 1-4-1989, read as under :
11E. Application for approval fo agreement under section 80-O.
The application to the Chielf Commissioner or the Director General, as the case may be, under the first proviso the section 80-O for approval of any agreement shall be in Form No. 10F.
3[(1)] In specifying a district for notification as an industrially backward district 3[of Category 'A'] under 2[sub-section (5) of section 80-IB], the Central Government shall satisfy itself that,--
(a) the district has a "Total Weighted Index Count" of 250 or less in the "All India Gradation List" appended in Appendix III of these rules; or
(b) the district is a "no industry" district as indicated in the "All India Gradation List" mentioned in clause (a); or
(c) the district is an inaccessible hill area district as indicated in the Eighth Plan Document and has a "Total Weighted Index Count" of 500 or less in the "All India Gradation List" mentioned in clause (a); or
(d) the district has no rail head as on 1-4-1994 and has a "Total Weighted Index C
Omitted by the IT (Thirty-second Amendment) Rules, 1999, w.e.f. 19-11-1999.
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1 Inserted by the IT (Fourteenth Amendment) Rules, 1992, w.e.f. 2-7-1992.
2 Prior to its omission, rule 11EE,
11EE. From of statement to be furnished under section 115K.
(1) The statement which is required to be submitted by any person under the provisions of section 115K shall be in form NO. 4A and shall be verified in the manner indicated therein.
(2) The form shall be in duplicate and shall also serve as a challan for the payment of tax under the provisions of
In this sub-part "National Committee" means the National Committee defined in section 35AC.
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1. Inserted by the IT (First Amdt.) Rules, 1992, w.e.f. 2-1-1992.
(1) The National Committee shall consist of fourteen members appointed by the Central Government from amongst persons of eminence in public life.
(2) The term of office of a member shall be for three years commencing on the date of notification.
1[(3) One of the members of the National Committee shall be appointed as Chairman by the Central Government. In the event of vacancy of the office of Chairman for any reason and until a new Chairman is appointed, no meeting of the National Committee shall be held :
Provided that if for any meeting, the Chairman is absent, the members present for the meeting may elect one amongst themselves to preside over the day's sitting.
(4) The National Committee may appoint one or more sub-committees from among its mem
(1) The headquarters of the National Committee shall be at New Delhi. Its sittings shall take place at New Delhi or such other place as the Central Government may decide.
(2) Secretariat to the Committee will be provided by the Department of Revenue, Ministry of Finance, Government of India and a Joint Secretary to the Government of India, in the Department of Revenue shall act as Secretary to the Committee.
The functions of the National Committee shall be
(i) to approve associations and institutions for the purpose of carrying out any eligible project or scheme; and
(ii) to recommend to the Central Government projects and schemes of any company including a public sector company, a local authority or an approved association or institution, for being notified as eligible projects or schemes for the purposes of section 35AC.
In according approval to any association or institution, the National Committee shall satisfy itself that,--
(i) the association or institution is--
(a) constituted as a public charitable trust; or
(b) registered under the Societies Registration Act, 1860 (21 of 1860) or under any law corresponding to thatAct in force in any part of India; or
(c) registered under section 25 of the Companies Act, 1956 (1 of 1956);
(ii) persons managing the affairs of the association or institution are persons of proven integrity;
(iii) the activities of the association or institution are open to citizens of India without any distinction of religion, race, caste, sex, place of b
In making recommendations to the Central Government with regard to any project or scheme for being notified in the Official Gazette as an eligible project or scheme, the National Committee shall satisfy itself that,--
(i) the project or scheme relates to the provisions of one or more of the following:--
(a) construction and maintenance of drinking water projects in rural areas and in urban slums including installation of pump-sets, digging of wells, tube-wells and laying of pipes for supply of drinking water;
(b) construction of dwelling units for the economically weaker sections;
(c) construction of school buildings primarily for children belonging to the economically weaker sections of the society;
(d)
(1) An application for approval of an association or institution or for recommendation of a project or scheme by the National Committee for the purposes of section 35AC may be made to the Secretary to the National Committee for Promotion of Social and Economic Welfare, Department of Revenue, Government of India, North Block, New Delhi - 110 001.
(2) The application should be submitted in 2 sets, written either in English or Hindi, and should be accompanied with details about the name, address and status of applicant, the district/ward/circle where assessed/registered, permanent account number, audited balance sheet and profit and loss account or income and expenditure account for the latest year for which these are available and two preceding years.
(3) The application for approval of an association or institution should contain the fol
(1) All applications under rule 11L should be circulated by the Secretary to the National Committee to all the members of the Committee and will be considered by the National Committee at its sitting held at least seven days after the date on which the application is circulated. In exceptional cases, the Chairman may curtail the period of notice and may also direct consideration of the application by circulation only.
(2) The National Committee may call for such other information from the applicant as it deems necessary for taking a decision on the application and may also direct its Secretary to make or cause to be made enquiries on any matter relating to the application.
(3) The quorum for taking a decision on an application shall be at least five members, including Chairman. If a meeting is adjourned without taking a decision for lack
(1) The report to be furnished by the approved association or institution under clause (ii) of sub-section (4) of section 35AC shall be in Form No. 58C.
(2) The report referred to in sub-rule (1) shall be furnished to the National Committee before the expiry of three months from the end of the financial year.
(3) The National Committee, after receipt of the report referred to in sub-rule (2) may, at any time, undertake to inspect or verify the information furnished by the association or institution.]
(1) The report to be furnished by a public sector company or local authority or an association or institution in respect of the eligible project or scheme, under clause (ii) of sub-section (5) of section 35AC shall be in Form No. 58D.
(2) The report referred to in sub-rule (1) shall be furnished to the National Committee before the expiry of three months from the end of the financial year.
(3) The National Committee, after receipt of the report referred to in sub-rule (2) may, at any time, undertake to inspect or verify the information furnished by the public sector company or local authority or association or institution.]
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1. Substituted for decision at the adjourned mee
(1) The members of the National Committee shall not be entitled to any remuneration.
1[(2) The members and Chairman of the National Committee shall be entitled to--
(i) Sitting fee of Rs. 2[3000] per day for attending a meeting of the National Committee or any Subordinate Committee set up by the Chairman of the National Committee. However, sitting fee would not be payable where applications are considered by circulation or when a member is on tour.
(ii) Reimbursement of actual expenditure incurred by way of travel by rail, road or air, for attending any meeting of the National Committee or its Subordinate Committee. The entitlement of air travel would be restricted to the amount charged by Indian Airlines for its economy class for the members and to the amount charged for the executive class o
(1) The certificate referred to in clause (a) of sub-section (2) of section 35AC shall be in Form No. 58A.
(2) The certificate referred to in clause (b) of sub-section (2) of section 35AC shall be in Form No.56B.
(3) Every public sector company or a local authority or an association or institution, as the case may be, who issues a certificate referred to in sub-rule (1) or sub-rule (2) shall, in respect of the 31st March in each financial year, deliver or cause to be delivered to the Secretary, National Committee, an annual report indicating the progress of work relating to the project/scheme during the year as well as the following information (please specify the information in respect of each contributor separately):--
(i) Names of the contributors and their addresses.
&
An application under sub-section (1) of section 115VP for exercising an option for the tonnage tax scheme or under sub-section (1) of section 115VR for renewing the option for the tonnage tax scheme, as the case may be, shall be made in Form No. 65 and shall be verified in the manner provided therein.]
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1. Inserted by Notification No SO1067(E) dated 29.09.2004.
(1) For the purpose of the Explanation to sub-section (4) of section 115VG, deemed tonnage in respect of an arrangement of purchase of slots and slot charter shall be computed (illustrative formula given in Note 3 appearing after the corresponding form No. 66) on the following basis:
2.5 TEU = 1 Net Tonnage (1 NT) where TEU is Twenty foot Equivalent Unit (Container of this size)
(2) Computation of deemed tonnage (illustrative formula given in Note 4 appearing after the corresponding form No. 66) in respect of an arrangement of sharing of break-bulk vessel shall be made on the following basis:
(i) in case where cargo is restricted by volume : 19 cubic meter (cbm) = 1 net tonnage (1 NT) and
(ii) in case where Cargo is restricted by weight 14 metric to
The incidental activities (details given in Note 5 appearing after the corresponding form No. 66) referred to in sub-section (5) of section 115V-I shall be the following, namely:-
(i) maritime consultancy charges;
(ii) income from loading or unloading of cargo;
(iii) ship management fees or remuneration received for managed vessels; and
(iv) maritime education or recruitment fees.]
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1. Inserted by the IT ((Eighth Amendment) Rules, 2005 w.e.f. 01.04.2005.
The limit for charter-in of tonnage of the qualifying ships referred to in section 115 VV (to be worked out according to the illustration explained in Note 6 appearing after the corresponding form No. 66) during any previous year shall be computed by dividing the total number of chartered-in ton days by the total number of ton days operated by the company.]
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1. Inserted by the IT ((Eighth Amendment) Rules, 2005 w.e.f. 01.04.2005.
The report of audit of accounts of a qualified company which is required to be furnished under clause (ii) of section 115VW shall be in Form No.66.';]
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1. Inserted by the IT ((Eighth Amendment) Rules, 2005 w.e.f. 01.04.2005.
For the proposes of this rule and rule 11UA,
(a) "accountant" shall have the same meaning as assigned in the Explanation to section 288 of the Act;
(b) "balance-sheet", in relation to any company, means the balance-sheet of such company (including the notes annexed thereto and forming part of the accounts) as drawn up on the valuation date;
(c) "merchant banker" means category I merchant banker registered with Security and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992);
(d) "quoted shares or securities" in relation to share or securities means a share or security quoted on any recognized stock exchange with regularity from time to time, where the quotations of such shares or s
For the purposes of section 56 of the Act, the fair market value of a property, other than immovable property, shall be determined in the following manner, namely,
(a) valuation of Jewellery.-
(i) the fair market value of jewellery shall be estimated to be the price which such jewellery would fetch if sold in the open market on the valuation date;
(ii) in case the jewellery is received by the way of purchase on the valuation date, from a registered dealer, the invoice value of the jewellery shall be the fair market value;
(iii) In case the jewellery is received by any other mode and the value of the jewellery exceeds rupees fifty thousand, then assessee may obtain the report of registered valuer in respect of the price it would fetch if sold in the
(1) The return of income required to be furnished under sub-section (1) or sub-section (3) or sub-section (4A) or sub-section (4B) or sub-section (4C) or sub-section (4D) of section 139 or clause (i) of sub-section (1) of section 142 or sub-section (1) of section 148 or section 153A 29[***] relating to the assessment year commencing 22[on the 1st day of April, 30[2011]] shall, -
27[(a) in the case of a person being an individual where the total income includes income chargeable to income tax, under the head,-
(i) "Salaries" or income in the nature of family pension as defined in the Explanation to clause (iia) of section 57; or
(ii) "Income from house property", where assessee does not own more than one house property and does not have any brought forward loss under the head; or
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Every authorised representative of an assessec, being an authorised representative specified in clause (iii) or clause (iv) or clause (v) or clause (vi) or clause (vii) of sub-section (2) of section 288, who has prepared the return of income furnished by the assessee shall, either before making an appearance before the Assessing Officer having jurisdiction to assess that assessee, or immediately after making such appearance, furnish to that officer--
(a) particulars of accounts, statements or other documents supplied to him by the assessee for the preparation of the return of income; and
(b) where the authorised representative has for the purpose of preparation of the return of income carried out any examination of such accounts, statements or documents, a report on the scope and results of such examination.
(1) The statement of income distributed shall be furnished as provided in sub-rules (2) and (3) to.--
(i)the Assessing Officer so designated by the Chief Commissioner or Commissioner of Income-tax, within whose area of jurisdiction, the principle office of the Unit Trust of India or the concerned Mutual Fund is situated;
(ii) in any other case, to the Assessing Officer within whose area of jurisdiction, the principal office of the Unit Trust of India or the concerned Mutual Fund is situated.
(2) The statement of distributed income which is to be furnished under sub-section (3 A) of section 115R by the Unit Trust of India shall be in Form No. 63, duly verified by an accountant in the manner indicated therein.
(3) The statement of distributed income
(1) The statement of distributed income shall be furnished by the 30th November of the financial year following the previous year during which such income is distributed, to the Chief Commissioner or Commissioner of Income-tax, within whose jurisdiction, the principal office of the Venture Capital Company or the Venture Capita! Fund, as the case may be, is situated.
(2) The statement of distributed income which is to be furnished under sub-section (2) of section 115U by the Venture Capital Company or the Venture Capital Fund shall be in Form No. 64, duly verified by an accountant in the manner indicated therein.]
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1. Inserted by the IT (Fifteenth Amendment) Rules, 2000, w.e.f. 29-8-2000.
Omitted by the IT (Fifth Amendment) Rules, 1989, w.e.f. 18-5-1989.)
Omitted by the IT (Fifth Amendment) Rules, 1989, w.e.f. 18-5-1989.)
The information which a person is required by the Assessing Officer to furnish under clause (it) of sub-section (1) of section 142 shall be verified in the following manner, namely :--
"I declare that to the best of my knowledge and belief, the information furnished in the statement/statements is correct and complete and other particulars shown therein are truly stated."
The report of audit of the accounts of an asscssee which is required to be furnished under sub-section (2A) of section 142 shall be in Form No. 6B.
Omitted by the IT (Fifth Amdt.) Rules, 1989, w.e.f. 18-5-1989.
(1) Subject to the provisions of rules 38 and 48A, the notice of demand under section 156 shall be in Form No. 7.
(2) Omitted by the IT (Third Amendment) Rules, 1964.
(1) The declaration referred to in sub-section (1) of section 158A. shall be in Form No. 8 and shall be verified in the manner indicated therein.
(2) The declaration and the verification referred to in sub-rule (1) shall be signed by the person specified in sub-rule (2) of rule 45.
(3) The declaration referred to in sub-rule (1) shall,--
(a) in a case where it is furnished to the Deputy Commissioner (Appeals) or the Commissioner (Appeals), be in duplicate, and
(b) in a case where it is furnished to the Appellate Tribunal, be in triplicate.
For the purposes of sub-clause (viia) of clause (6) of section 101, the "prescribed authority" shall be the Secretary, Department of Scientific and Industrial Research, Government of India:
Provided that every ease pending on or before the 1st day of June, 1982, with any, authority, other than the said Secretary, shall stand transferred to the said Secretary for disposal.
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1. Section 10(6) (viia) was omitted by the Finance (No. 2) Act, 1998, w.e.f. 1-4-1999.
For the purposes of clauses (8A) and (8B) of section 10, the "prescribed authority" shall be the Additional Secretary, Department of Economic Affairs in the Ministry of Finance, Government of India in concurrence with Member (Income-tax) of the Board.]
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1 Inserted by the IT (Eighteenth Amdt.) Rules, 1993, w.e.f. 30-9-1993.
(1) The fund shall be formed under a trust and it shall be evidenced by a trust deed.
(2) The contributions to the fund are to be made by the employees by way of periodical subscription.
(3) The application for approval of any fund under clause 10(23AAA) of section 10 shall be made in Form No. 9 to the Commissioner having jurisdiction over the area or territory in which the accounts are kept and such application shall be accompanied by the documents mentioned therein.
(4) Where the Commissioner is satisfied that all the conditions laid down in clause 10(23AAA) of section 10 are fulfilled in the case of the fund, he shall record such satisfaction in writing and grant approval to the fund specifying the assessment year or years for which the approval is valid so however that such approval shall,
The report of audit of the accounts of a fund or trust or institution or any university or other educational institution or any hospital or other medical institution which is required to be furnished under the tenth proviso to clause (23C) of section 10 shall be in Form No. 10BB.]
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1 Inserted by the IT (Fifteenth Amendment) Rules, 1995, w.e.f. 27-7-1995.
2 Inserted by Income-tax (Eighth Amendment) Rules, 2006 vide Notification No. SO1176(E) dated 25.07.2006.
The report of an accountant which is required to be furnished by the assessee along with the return of income, under sub-section (5) of section 10A shall be in Form No. 56F.]
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1 Inserted by the IT (Seventeenth Amdt.) Rules, 2000, w.e.f. 27-9-2000.
The particulars, which are required to be furnished by the assessee along with the return of income under clause (b) of Sub-section (1B) of Section 10A.
The particulars, which are required to be furnished by the assessee along with the return of income under clause (b) of Sub-section (1B) of Section 10A shall be in Form No.56FF
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1. Inserted by the Income Tax (15th Amendment) Rules, 2003, w.e.f. 26.8.2003.
The report of an accountant which is required to be furnished by the assessee along with the return of income, under sub-section (5) of section 10B shall be in Form No. 56G.]
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1. Inserted by the IT (Eighteenth Amdt.) Rules, 2000, w.e.f. 27-9-2000.
The report of an accountant which is required to be furnished by the assessee along with the return of income, under sub-section (5) of section 10BA shall be in Form No. 56H.
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1. Inserted by the Income-Tax (Seventh Amendment) Rules, 2004 w.e.f. 31.03.2004.
The notice to be given to the Assessing Officer or the prescribed authority under
sub-section (2) of section 11 or under the said provision as applicable under clauses (21) and (23) of section 10 shall be in Form No.10 and shall be delivered before the expiry of the time allowed under sub-section (1) of section 139, for furnishing the return of income.
An application under clause (a) of section 12A for registration of a charitable or religious trust or institution shall be made in duplicate in Form No. 10A and shall be accompanied by the following documents, namely :--
1[(aa)] where the trust is created, or the institution is established, under an instrument, the instrument in original, together with one copy thereof; and where the trust is created, or the institution is established, otherwise than under an instrument, the document evidencing the creation of the trust or the establishment of the institution, together with one copy thereof:
Provided that if the instrument or document in original cannot conveniently be produced, it shall be open to the 2[***] Commissioner to accept a certified copy in lieu of the original;
(b) where the trust
The report of audit of the accounts of a trust or institution which is required to be furnished under clause (b) of section 12A, shall be in Form No. 10B.
The forms and modes of investment or deposits under clause (xii) of subsection (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 ofthe Income-tax Act, 1961;
(ii) any transfer of deposits to the Public Account of India;
2[(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;]
3[(iv) investment by way of acquiring equity shares of a depository as defined in clause (e) of sub-section (1) of section2 of the D
For the purposes of sub-clause (iii) of clause (b) of sub-section (2) of section 80HHB, any project for execution of work of exploration, exploitation, development and production of hydrocarbons outside India shall be a foreign project.]
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1. Inserted by the IT (Thirteenth Amdt.) Rules, 1999, w.e.f. 2-6-1999.
[Omitted by the IT (Third Amdt.) Rules, 1973. w.e.f 1- 4-1974]
[Omitted by the IT (Third Amdt.) Rules, 1976, w.e.f. 1-4-1976]
[Omitted by the IT (Fifth Amdt.) Rules, 1996, w.r.e.f. 1-4-1993]
For the purpose of sub-clause (iiif) of clause (a) of sub-section (2) of section 80G, the prescribed authority,--
(a) in relation to a university or any non-technical institution of national eminence, shall be the Director General (Income-tax Exemptions), who shall grant approval with the concurrence of the Secretary, University Grants Commission;
(b) in relation to any technical institution of national eminence, shall be the Director General (Income-tax Exemptions) who shall grant approval with the concurrence of the Secretary, All India Council of Technical Education.
Explanation : For the purposes of this rule,--
(1) "All India Council of Technical Education" means the All India Council of Technical Education established under section 3 of the A
(1) For the purpose of Sub-section (5C) of Section 80G, the prescribed authority shall be the Director General of Income-tax (Exemptions).
(2) The trust, the fund or the institution, which is established in India for a charitable purpose and is approved in terms for of clause (vi) of Sub-section (5) shall maintain separate accounts of income and expenditure for providing relief to the victims of earthquake in Gujarat and get such accounts audited by an accountant, as defined in the Explanation to Sub-section (2) of Section 288 and furnish the report of such audit, duly signed and verified by such accountant to the Director General of Income-tax (Exemptions) in Form No. 10AA. Such authority, on receipt of the accounts in the said form, shall give the findings as to whether the donations received for the purpose of providing relief to the victims of earthquake in Gujarat are chargeab
In specifying an association or institution for notification under clause (c) of sub-section (2) of section 80G, the Central Government shall satisfy itself that,
(a) the association or institution has as its object the control, supervision, regulation or encouragement in India of the games or sports notified under Explanation 4 to Section 80G;
(b) the association or institution has a proven record of its dedication towards development of infrastructure of sports or games or promotion of sports or games for at least a period of three years;
(c) the association or institution does not distribute any part of its income in any manner to its members except as grants to any association or institution affiliated to it;
(d) the association or institution
For the purposes of sub-section (4B) of section 80-IA, the prescribed authority shall be the Secretary, Department of Scientific and Industrial Research, Ministry of Science and Technology, Government of India.]
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1. Inseerted by the IT (Tenth Amdt.) Rules, 1996, w.e.f. 1-4-1997.
The report of audit of the accounts of an assessee, other than a company or a co-operative society, which is required to be furnished under sub-section (5) of section 80HH shall be in Form No. 10C.
The report of the audit of the accounts of an assessee, other than a company or a co-operative society, which is required to he furnished under subsection (4) of section 80HHA shall be in Form No. 10CC
(1) The report of the audit of the accounts of an assessee, other than a company or a co-operative society, which is required to be furnished under clause (1) of sub-section (3) of section 80HHB shall be in Form No. 10CCA.
1[(1A) The report of the audit of the accounts of an assessee which is required to be furnished under clause (i) of sub-section (2) of section 80HHBA shall be in Form No. 10CCAA.]
2[(1B) The certificate from an accountant which is required to be furnished by the assessee under clause (ia) of sub-section (3) of section 80HHB shall be in Form No. 10CCAH.]
(2) The certificate from the Export House or Trading House which is required to be furnished by the supporting manufacturer under clause (b) of sub-section (4A) of section 80HHC shall be in Form No. 10CCAB.
&nb
18BBB.(1) The report of the audit of the accounts of an assessee, which is required to be furnished under sub-section (7) of section 80-IA or sub-section (7) of section 80-I, except in the cases of multiplex theatres as defined in sub-section (7A) of section 80-IB of convention centers as defined in sub-section (7B) of section 80-IB 3[or hospitals in rural areas as defined in sub-section (11B) of section 80-IB], shall be in Form Number 10CCB.
(2) A separate report is to be furnished by each undertaking or enterprise of the assessee claiming deduction under section 80-I or 80-IA or 80-IB 3[or 80-IC] and shall be accompanied by the Profit and Loss Account and Balance Sheet of the undertaking or enterprise as if the undertaking or the enterprise were a distinct entity.
(3) In the case of an enterprise carrying on the business of developin
(1) For the purposes of sub-clause (iii) of clause © of sub-section (7) of section 80-IB, the prescribed authority,--
(a) in relation to hotels located in an area or place referred to in clause (a) of that sub-section, shall be the Director General (Income-tax Exemptions) who shall grant approval on the concurrence of the Director General in the Directorate General of Tourism, Government of India;
(b) in relation to hotels located in any place referred to in clause (b) of that sub-section, shall be the Director General in the Directorate General of Tourism, Government of India.
(2) For the purpose of clause (a) of sub-section (7) of section 80-IB, a hotel shall be approved by the prescribed authority if the following conditions are fulfilled, namely:--
&n
For the purposes of sub-section (4B) of section 80-IA, the prescribed authority shall be the Secretary in the Department of Scientific and Industrial Research and Development, Ministry of Science and Technology, Government of India.]
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1. Inserted by the IT (Fifth Amendment) Rules, 1996, w.e.f. 21-11-1996.
(1) For the purpose of sub-section 2[(6)] of section 80-IA, the profits of housing or other activities, whieh arc integral part of a highway project, shall be computed on the basis and manner specified below :--
(i) in a case where the annual profits of the housing or other activities which arc integral part of a highway project can be arrived atin accordance with the regular method of accounting followed, the profits so arrived at as computed under the provisions of the Act;
(ii) in any other case, the amount of profits arrived at based on the percentage of completion of the activities referred to in clause (i) during the relevant previous year.
(2) Every assessee shall maintain separate accounts for the activities referred to in sub-rule (1) and shall submit a certificate from an accountant
(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, 5[2011].
(2) The undertaking and the Industrial Park shall be notified by the Central Government under the Industrial Park Scheme, 2008.
(3) The undertaking shall continue to fulfill the conditions envisaged in the Industrial Park Scheme, 2008.]
4. Substituted by the Income-tax (First Amendment) Rules, 2008 vide Notification No. 2/2008 dated 08.01.2008 for the following: -
"1[Eligibility of Industrial Parks and Special Economic Zones for benefits under Section 80-IA(4)(iii)] (1) The undertaking shall begin to operate an industrial park durin
(1) For the purposes of sub-section (8A) of section 80-IB, the prescribed authority shall be the Secretary, Department of Scientific and Industrial Research, Ministry of Science and Technology, Government of India.
(2) The prescribed authority shall initially grant approval to a company carrying on scientific research and development for a period of three assessment years and subject to satisfactory performance of that company on periodic review extend the said approval for a further period of three assessment years so that the total period of approval is for ten consecutive assessment years, beginning from the initial assessment year.
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&
(1) Any company carrying on scientific research and development shall be eligible for deduction specified in sub-section (8A) of section 80-IB, if such company--
(a) is registered in India;
(b) has its main object the scientific and industrial research and development;
(c) has adequate infrastructure such as laboratory facilities, qualified manpower, scale-up facilities and prototype development facilities for undertaking scientific research and development of its own;
(d) has a well formulated research and development programme comprising of time bound research and development projects with proper mechanism for selection and review of the projects or programme;
(e) is engaged exclusively in scientific re
(1) For the purpose of sub-section (7A) and clause (da) of sub-section 14 of section 80-IB, the multiplex theatre shall have the following area, facilities and amenities:-
(a) The total built-up area occupied by all the cinema theatres comprised in the multiplex shall be not less than 22,500 square feet, and shall consist at least 50% of the total built-up area of the multiplex excluding the area specified for parking.
(b) The multiplex theatres shall be comprised of at least three cinema theatres and at least three commercial shops.
(c) Total seating capacity of all the cinema theatre comprised in the multiplex shall be at least 900 seats, and no cinema theatres should consist of less than 100 seats.
(d) The total built-up area occupied by all the
(1) For the purpose of Sub-section (7B) and clause (aa) of Sub-section (14) of Section 80-IB, the convention centre shall have the following area, facilities and amenities,-
(i) A convention centre located in a town or city mentioned in column (1) of the table below, shall have a minimum plinth area mentioned in column (2), minimum seating capacity mentioned in column (3) and minimum number of conference or seminar halls mentioned in column (4) of the said table, as under :--
Town size population (as per 2001 census) Minimum area covered plinth area (in Sq. mtrs.) Minimum seating capacity range Minimum number of Conference or Seminar halls
(1) (2) (3) (4)
Below 5 lakhs 2000 200-300 2
5--10 lakhs 5000 500-
The report of an accountant which is required to be furnished by the assessee along with the return of income, under sub-section (11B) of section 80-IB shall be in Form No. 10CCBC.
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1. Inserted by Income-tax (5th Amendment) Rules, 2005 vide Notification No. 58/2005 dated 17.02.2005.
The report of an accountant which is required to be furnished by the assessee along with the return of income, under sub-section (11C) of section 80-IB shall be in Form No. 10CCBD.]
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1. Inserted by the Income-tax (Eighth Amendment) Rules, 2008 vide Notification No. 98/2008 dated 22.10.2008.
(1) For the purposes of clause (a) of sub-section (6) of section 80-ID, the convention centre shall have the following area, facilities and amenities,
(a) A convention centre located in the specified area mentioned in column (1) of the Table below, shall have a minimum covered plinth area mentioned in column (2), minimum seating capacity mentioned in column (3) and minimum number of convention halls, for the purpose of holding conferences and seminars, mentioned in column (4) of the said table.
Table
Specified area Minimum covered plinth area (in sq. mtrs.) Minimum seating capacity Minimum number of convention halls
(1) (2) (3) (4)
National Capital Territory of Delhi, Faridabad, Gurgaon, Gautam Budh Naga
[Omitted by the IT (Fifth Amdt.) Rules, 1989,w.e.f 18-5-1989]
[Omitted by the IT (Thirty-Second Amdt,) Rules, 1999,w.e.f 19-11-1999]
Report of an accountant which is required to be furnished by the assessee along with the return of income under clause (b) of sub-section (2) of section 80JJAA shall be in Form No. 10DA.]
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1. Inserted by the IT (Twenty-first Amendment) Rules, 1998, w.e.f. 23-10-1998.
(1) The Certificate, which is required to be furnished by the assessee under sub-section (3) of section 80QQB from a person responsible for making payment to the assessee, shall be in Form No. 10CCD.
(2) The Certificate in Form No. 10CCD duly verified by the person responsible for making the payment to the assessee is required to be furnished along with the return of income.
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1. Inserted by IT (19th Amendment) Rules, 2003 w.e.f. 01.04.2003.
(1) For the purposes of sub-section (2) of section 80RRB, the prescribed authority shall be the Controller, referred to in clause (b) of sub-section (1) of the Patents Act, 1970 (39 of 1970).
(2) The certificate, which is required to be furnished by the assessee under sub-section (2) of section 80RRB from the prescribed authority shall be in Form No. 10CCE
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1. Inserted by IT (18th Amendment) Rules, 2003 w.e.f.05.09.2003
The report of the accountant, which is required to be furnished by the assessee under sub-section (3) of section 80-LA shall be in Form No. 10 CCF.]--
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1. Inserted by Income-tax (26th Amendment) Rules, 2003 w.e.f. 13.11.2003.
The Board, before granting approval to a public company, 4[under clause (xix) of sub-section (2) of section 80C or] under clause (xvi) of sub-section (2) of section 88, shall satisfy itself that the application made to it fulfils the following requirements, namely:--
(1) An application for approval has been made in the Form No. 59 by the public company three months before the 2[eligible issue of capital].
5[Explanation.- For the purposes of this rule, "the eligible issue of capital" means an issue referred to in clause (i) of the Explanation to clause (xix) in sub-section (2) of section 80C or in clause (i) of the Explanation to clause (xvi) in sub-section (2) of section 88.]
(2) Every application shall be accompanied by the following documents, namely:--
(1) For the purpose of 2[clause (xx) of sub-section (2) of section 80C or] clause (xvii) of sub-section (2) of section 88,the prescribed authority shall be the Central Board of Direct Taxes.
(2) An application for approval shall be made in Form No. 59A by the Mutual Fund to the Board referred in sub-rule (1) three months before the public issue.
(3) Every application for approval under sub-rule (2) shall be accompanied by the following documents, namely :--
(a) audited balance sheets and profit and loss account for three previous years immediately preceding the previous year in which the application is made:
Provided that where a Mutual Fund has been in existence for a period of less than three years, in that case that company may furnish balance sh
The evidence of payment of securities transaction tax which is required to be furnished alongwith the return of income by the assessee under first proviso to section 88E, -
(i) on value of transaction entered into by him a recognised stock exchange, shall be in Form No. 10DB and shall be verified in the manner indicated therein ;
(ii) on value of transaction of sale, by him, of a unit of an equity oriented fund to the Mutual Fund, shall be in Form No. 10DC and shall be verified in the manner indicated therein.]
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1. Inserted by the IT (1st Amendment) Rules, 2005 w.e.f. 06-01-2005.
[Omitted by the IT (Fifth Amdt.) Rules, 1989,w.e.f 18-5-1989]
1[(1) Where, by reason of any portion of an assessees salary being paid in arrears or in advance or, by reason of any portion of family pension received by an assessee being paid in arrears or, by reason of his having received in any one financial year salary for more than twelve months or a payment which under the provisions of clause (3) of Section 17 is a profit in lieu of salary, his income is assessed at a rate higher than that at which it would be otherwise have been assessed, the relief to be granted under Sub-section (1) of Section 89 shall be
(a) where any portion of the assessees salary is received in arrears or in advance or, any portion of family pension is received by an assessee in arrears, in accordance with the provisions of Sub-rule (2);
(b) where the payment is in the nature of gratuity in respect of past services
Where the assessee, being a Government servant or an employee in a company, co-operative society, local authority, university, institution, association or body, is entitled to relief under sub-section (1) of section 89, he may furnish to the person responsible for making the payment referred to in sub-section (1) of section 192, the particulars specified in Form No. 10E.
2[(1) Subject to the provisions of sub-rule (2), for the purposes of sub-section (5) of section 90 and sub-section (5) of section 90A, the following information shall be provided by an assessee in Form No. 10F, namely:-
(i) Status (individual, company, firm etc.) of the assessee;
(ii) Nationality (in case of an individual) or country or specified territory of incorporation or registration (in case of others);
(iii) Assessee's tax identification number in the country or specified territory of residence and in case there is no such number, then, a unique number on the basis of which the person is identified by the Government of the country or the specified territory of which the asseessee claims to be a resident;
(iv) Period for which the residential
(1) For the purposes of clause (a) of sub-section (3) of section 94A, the authorisation to be submitted by the assessee, shall be in Form No. 10 FC.
(2) The assessee shall cause the first copy of the duly filled Form No. 10FC to be deposited with or transmitted to the financial institution referred to in clause (a) of sub-section (3) of section 94A.
(3) The second copy of the Form No. 10FC along with the evidence of the first copy of said Form having been deposited or transmitted to the financial institution shall be submitted by the assessee to the Assessing Officer having jurisdiction over him.
(4) For the purpose of ensuring that the authorisation in Form No. 10FC is legally enforceable, the assessee shall take all necessary steps as are required under any law for the time being in force in
[Omitted by the IT (Thirty-Second Amdt.) Rules, 1999,w.e.f 19-11-1999]
(1) An application for registration of a firm for the purposes of the Act shall be made in accordance with the provisions of sub-rules (2) to (5).
(2) Where the application is made before the end of the relvant previos year
(i) and where no change in the constitution of the firm or the shares of the partners has taken place during the previous year before the date of the application
(a) the application shall be made in Form No. 11; and
(b) It shall be accompanied by the original instrument evidencing the partnership at the date of the application together with a copy thereof. A certified copy of the instrument together with a duplicate copy thereof may be attached to the application if, for sufficient reason, the original instrument cannot be produc
If after the date of the application, or of the last application where more than one application are made, for registration of a firm for any assessment year and before the assessment for that assessment year is completed by the Assessing Officer, so far as known to the firm, any change or changes take place in the constitution of the firm or the shares of the partners, the details of such change or changes shall be communicated by the firm to the Assessing Officer as soon as possible after each such change takes place.
The declaration to be furnished under sub-section (7) of section 184 shall be in Form No. 12 and shall be verified in the manner indicated therein and shall be signed by the persons concerned in accordance with sub-rule (5) of rule 22.
(1) The communication required to be made by any partner of a firm under clause (b) of the Explanation below sub-section (1) of section 185 shall be in Form No. 12A.
(2) The communication referred to in sub-rule (1) shall be made,--
(a) in a case where the firm has not been registered under section 184, before the end of the previous year for the assessment year in respect of which registration of the firm is sought:
Provided that where the registration is sought for the assessment year commencing on the 1st day of April, 1976, the communication may he made before the expiry of the time allowed under sub-section (1) or subsection (2) of section 139 (whether fixed originally or on extension) for furnishing the return of income for that assessment year;
&nb
The certificate under sub-section (4) of section 185 shall be recorded on the last of the instruments evidencing the partnership during the relevant previous year (or on the certified copy submitted in lieu thereof) attached with the application for registration of the firm made in accordance with sub-rules (2) to (4) of rule 22.
For the purpose of deduction of tax at source on any income payable in foreign currency, the rate of exchange for the calculation of the value in rupees of such income payable to an assesses outside India shall be the telegraphic transfer buying rate of such currency as on the date on which the tax is required to be deducted at source under the provisions of Chapter XVII-B by the person responsible for paying such income.
Explanation: For the purposes of this rule, "telegraphic transfer buying rate", in relation to a foreign currency, means 1[the rate or rates of exchange] adopted by the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955), for buying such currency 2[having regard to the guidelines specified from time to time by the Reserve Bank of India for buying such currency,] where such currency is made available to that bank through a telegraph
(1) The assessee may furnish to the person responsible for making the payment referred to in sub-section (1) of section 192, the details of the income under the head "Salaries " due or received by him from the other employer or employers referred to in subsection (2) of that section and of any tax deducted at source from such income in Form No.12B.
(2) The person responsible for paying any income chargeable under the head "Salaries" shall furnish to the person to whom such payment is made, a statement giving correct and complete particulars of perquisites or profits in lieu of salary and the value there of in,-
(a) relevant columns provided in Form No. 16, if the amount of salary paid or payable to the employee is not more than one lakh and fifty thousand rupees; or
(b) 2[Form No. 12BA, if
1[(1) The assessee may send to the person responsible for making payment under sub-section (1) of section 192, a statement of any income chargeable under any head of income other than "Salaries" (not being a loss under any such had other than the loss under the head "Income from house property"), received by the assessee for the same financial year, and of any tax deducted on such income.
(2) A Verification in the following form shall be annexed to the statement referred to in sub-rule (1): -
FORM OF VERIFICATION
I,.................. (name of the assessee), d declare that what is stated above is true to the best of my information and belief.]
&nb
The arrangements referred to in sections 194 and 236 to be made by a company for the declaration and payment of dividends (including dividends on preference shares) within India shall be as follows :
(1) The share-register of the company for all shareholders shall be regularly maintained at its principal place of business within India, in respect of any assessment year from a date not later than the 1st day of April of such year.
(2) The general meeting for passing the accounts of the previous year relevant to the assessment year and for declaring any dividends in respect thereof shall be held only at a place within India.
(3) The dividends declared, if any, shall be payable only within India to all shareholders.
(1) An application by a person 1[***] for a certificate under sub-section (1) of section 197 shall be made in Form No. 13.
(2) 5[***]
(3) 2[***]
3[***]
4[***]
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1 Words , other than a company, omitted by the IT (Twentieth Amdt.) Rules, 1992, w.e.f. 23-12-1992.
2 Omitted by the IT (Tenth Amdt.) Rules, 1993, w.e.f. 16-6-1993. Prior to its omission sub-rule (3), as amended by the IT (Tird Amdt.) Rules, 1988, w.e.f. 9-6-1988, stood as under :
(3) An application by a person, other than a company, for a certi
Omitted by the IT (Third Amendment) Rules, 1996, w.e.f. 2-7-1996.
(1) Where the Assessing Officer, on an application made by a person under sub-rule (1) of rule 28 is satisfied that existing and estimated tax liability of a person justifies the deduction of tax at lower rate or no deduction of tax, as the case may be, the Assessing Officer shall issue a certificate in accordance with the provisions of sub-section (1) of section 197 for deduction of tax at such lower rate or no deduction of tax.
(2) The existing and estimated liability referred to in sub-rule (1) shall be determined by the Assessing Officer after taking into consideration the following:-
(i) tax payable on estimated income of the previous year relevant to the assessment year;
(ii) tax payable on the assessed or returned income, as the case may be, of the last three previous years;
&n
(1) Subject to the conditions specified in sub-rule (2), a person
(a) in receipt of income or deemed income derived from property held under trust wholly for charitable or religious purposes and who claims exemption under section 11 or section 12; or
(b) required to file a return in respect of a scientific research association, news agency, association or institution, fund or trust or university or other educational institution or any hospital or other medical institution or trade union referred to in sub-section (4C) of section 139, may make an application to the Assessing Officer for the grant of a certificate under sub-section (1) of section 197 authorizing him to receive incomes without deduction of tax at source.
(2) The conditions referred to in sub-rule (2) are the following, namely:-<
1(1) The Assessing Officer, on being satisfied that the total income of the shareholder justifies the deduction of income-tax at any lower rates or no deduction of income-tax, as the case may be, shall, on an application made under sub-rule (1) of rule 28 by the assessee, give him a certificate authorising the payment of a dividend to him, under sub-section (1) of section 197, without deduction of tax or, as the case may be, after deduction of tax at rates lower than the rates in force only if the following conditions are satisfied, namely :
(a) The shares in respect of which the certificate is sought for by him
(i) are shares in public companies; and
(ii) stand in his name and are beneficially owned by him, and the dividends therefrom are not includible in the total income of any other person
(1) The certificate referred to in sub-section (4) of section 80QQB, sub-section (3) of section 80RRB, sections 80R, 80RR and 80RRA shall be in Form No. 10H.
(2) For the purpose of sub-section (4) of section 80QQB and sub-section (3) of Section 80RRB, the prescribed authority shall be the Reserve Bank of India or such other authority as is authorised under any law for the time being in force for regulating payments and dealings in foreign exchange.;
________________________________
1 Substituted by IT (19thh Amendment) Rules, 2003 w.r.e.f. 01.04.2003. Prior to substitution it read as under:
"29A [Form of certification to be filled with the return of Inc
The certificate referred to in second proviso lo section 80-O shall be in Form No. 10HA.]
________________________________
1. Inserted by the IT (Eleventh Amendment) Rules, 1999, w.e.f. 1-6-1999.
(1) Any person entitled to receive any interest, or other sum, on which income-tax has to be deducted under sub-section (1) of section 195 may, if he fulfils the conditions specified in sub-rule (2), make an application for the grant of a certificate under sub-section (3) of section 195 authorizing him to receive without deduction of tax under sub-section (1) of that section any such income as is specified here in below, namely:--
(i) where the person concerned is a banking company which is neither an Indian company nor a company which has made the prescribed arrangements for the declaration and payment of dividends within India, and which carries on operations in India through a branch, any income by way of interest, not being "interest on securities", or any other sum, not being dividends;
(ii) in the case of any other person who carri
(1) A declaration under sub-section (1) by an individual or under sub-section (1A) of section 197A by a person (not being a company or firm) shall be in Form No. 15G and shall be verified in the manner indicated therein.
8[(1A) A declaration under sub-section (1C) of section 197A by an individual resident in India, who is of the age of sixty-five years or mores at any time during the previous year and is entitled to a deduction from the amount of income-tax on his total income referred to in section 88B shall be in Form No. 15H and shall be verified in the manner indicated therein.]
(2) The declaration referred to in sub-rule (1) 8[or sub-rule (1A)] shall be furnished in duplicate to the person responsible for paying the "interest on securities" or dividend or interest other than "interest on securities" or, income in respect of units or
(1) The declaration under the second proviso to clause(i) of sub-section (3) of section 194C by a subcontractor shall be in Form No.15-I and shall be verified in the manner indicated therein by such subcontractor.
(2) The declaration referred to in sub-rule (1) may be furnished to the contractor responsible for paying or crediting any sum to the account of the sub-contractor before the event of such sum being credited or paid to such sub-contactor.
(3) The particulars under the third proviso to clause (i) of sub-section (3) of section 194C to be furnished by a contractor responsible for paying any sum to such sub-contractor shall be in Form No. 15J.
(4) The particulars referred to in sub-rule (3) shall be furnished,-
(i) to the Commissioner of Incom
(1) All sums deducted in accordance with the provisions of Chapter XVII-B by an office of the Government shall be paid to the credit of the Central Government -
(a) on the same day where the tax is paid without production of an income-tax challan; and
(b) on or before seven days from the end of the month in which the deduction is made or income-tax is due under sub-section (1A) of section 192, where tax is paid accompanied by an income-tax challan.
(2) All sums deducted in accordance with the provisions of Chapter XVII-B by deductors other than an office of the Government shall be paid to the credit of the Central Government -
(a) on or before 30th day of April where the income or amount is credited or paid in the month of March; and
(1) The certificate of deduction of tax at source by any person in accordance with Chapter XVII-B or the certificate of payment of tax by the employer on behalf of the employee under sub-section (1A) of section 192 shall be in-
(a) Form No. 16, if the deduction or payment of tax is under section 192; and
(b) Form No. 16A if the deduction is under any other provision of Chapter XVII-B.
(2) The certificate referred to in sub-rule (1) shall specify:-
(a) valid permanent account number (PAN) of the deductee;
(b) valid tax deduction and collection account number (TAN) of the deductor;
(c) (i) book identification number or numbers where deposit of tax deducted is
(1) Every person responsible for deduction of tax under Chapter XVII-B, shall, in accordance with the provisions of sub-section (3) of section 200, deliver, or cause to be delivered, the following quarterly statements to the Director General of Income-tax (Systems) or the person authorised by the Director General of Income-tax (Systems), namely:-
(a) Statement of deduction of tax under section 192 in Form No. 24Q;
(b) Statement of deduction of tax under sections 193 to 196D in-
(i) Form No. 27Q in respect of the deductee who is a non-resident not being a company or a foreign company or resident but not ordinarily resident; and
(ii) Form No. 26Q in respect of all other deductees.
12[(2) Statements referred
(1) Every collector, shall, in accordance with the provisions of the proviso to sub-section (3) of section 206C, deliver, or cause to be delivered, to the Director General of Income-tax (Systems) or the person authorised by the Director General of Income-tax (Systems), a quarterly statement in Form No. 27EQ.
(2) Statements referred to in sub-rule (1) for the quarter of the financial year ending with the date specified in column (2) of the Table below shall be furnished by the due date specified in the corresponding entry in column (3) of the said Table:-
Sl. No. Quarter of the financial year ended Due date
(1) (2) (3)
1. 30th June 15th July of the financial year
2. 30th September 15th October of the finan
2[The Director General of Income-tax (Systems) or the person authorised by the Director General of Income-tax (Systems)] shall deliver,-
(i) to every person from whose income the tax has been deducted; or
(ii) to the buyer referred to in sub-section (1) or, as the case may be, to the licencee or lessee referred to in sub-section (1C) of section 206C from whom the amount has been collected; or
(iii) to every person in respect of whose income the tax has been paid,
3[a statement referred to in section 203AA or the second proviso to sub-section (5) of section 206C, in Form No. 26AS by the 31st July] following the financial year during which taxes were deducted or collected or paid.]
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(1) Every branch of a banking company, which is required to make a quarterly return under sub-section (1) of section 206A in respect of interest on time deposits without deduction of tax at source, shall keep and maintain the particulars of such time deposits in Form No. 26QA.
(2) Every branch referred to in sub-rule (1) which is maintaining its daily accounts on computer media, shall keep and maintain the particulars in Form No. 26QA on computer readable media.
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2. Substituted by the Income-tax (Second Amendment) Rules 2006 vide Notification No. 71/2006 dated 17.03.2006.
1[31AC. Quarterly return of non-deduction of tax at source under section 206A
(1) Th
(1) The quarterly return to be furnished by a banking company under sub-section (1) of section 206A in respect of time deposits shall be in Form No. 26QAA and shall be verified in the manner indicated therein.
(2) The quarterly return referred to in sub-rule (1) shall be furnished, -
(i) to the Director General of Income-tax (Investigation), New Delhi or the person authorised by the Director General of Income-tax (Investigation), New Delhi;
(ii) on or before the 31st July, the 31st October, the 31st January and the 30th June following the respective quarter of the financial year.
(3) The quarterly return comprising Part A and Part B of Form No. 26QAA, referred to in sub-rule (1), shall be furnished on computer readable media being a CD-ROM (650 MB o
Omitted by the IT (Third Amendment) Rules, 1996, w.e.f. 2-7-1996.
(1) In cases where the trustees of an approved superannuation fund pay any contributions made by an employer, including interest on such contributions, to an employee during his life time, they shall send within two months from the end of the financial year to the Assessing Officer referred to in rule 36A, a statement giving the following particulars, namely:
(i) Name of the superannuation fund;
(ii) Name and address of the employee;
(iii) The period for which the employee has contributed to the superannuation fund;
(iv) The amount of contribution repaid on account of principal and interest;
(v) The average rate of deduction of tax during the preceding three years; and
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Omitted by the IT (Sixth Amendment) Rules, 1988, w.e.f. 12-7-1988.
Omitted by the IT (Sixth Amendment) Rules, 1988, w.e.f. 12-7-1988.
(1) In the case of offices of the Government the return under section 206 shall be furnished by-
(a) Officers and others who draw their pay from Audit Offices/Pay and Civil Audit Officers/Pay and Accounts Officers for all Gazetted Accounts Offices on separate bills ; and also for all pensioners who draw their pensions from audit offices ;
(b) Treasury Officers for all Gazetted Officers and others who draw their pay from treasuries on separate bills without counter-signature and also for all pensioners who draw their pensions from treasuries ;
(c) Heads of Civil or Military offices for all Gazetted Officers and others, except those referred to in clause (b), and all non-gazetted officers, whose pay is drawn on establishment bills or on bills countersigned by the Head of Office;
The returns referred to in rules 37 and 37A shall be furnished to the Director General of Income-tax (Systems) or the person or agency authorised by the Director General of Income-tax (Systems),;]
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1. Substituted by Income-tax (19th Amendment) Rules, 2005 vide Notification No. 178/2005 dt 30.06.2005 for the following :-
36A.- Income-tax authority for purposes of section 206.--
The returns referred to in rules 37 and 37A shall be furnished to--
(i) the Assessing Officer, so designated by the Chief Commissioner or Commissioner of Income-tax, within whose area of jurisdiction, the o
Every person, being a person responsible for deducting tax under Chapter XVII-B shall, in respect of a previous year, deliver or cause to be delivered to the 13[Director General of Income-tax (Systems) or the person or agency authorised by the Director General of Income-tax (Systems)] referred to in rule 36A, the returns mentioned in column (1) of the Table below in Form No. specified in the corresponding entry in column (2) of the said Table by the end of the month falling in the financial year immediately following the previous year as specified in the corresponding entry in column (3) of the said Table :--
11[TABLE
Sl.No. Nature of returns Form No. Month
(i) (2) (3)
1. Annual return of deduction of tax under section 192 from "Salaries" 24
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The person making deduction of tax in accordance with sections 193, 194, 194E, 195,196A, 196B, 196C and 196D of the Act from any payment made to--
(i) a person, not being a company, who is a non-resident or a resident but not ordinarily resident, or
(ii) a company which is neither an Indian company nor a company which has made the prescribed arrangements for the declaration and payment of dividends within India;
shall send within fourteen days from the end of the quarter a statement in Form No. 27Q to the Director General of Income-tax (Systems) or the person or agency authorized by the Director General of Income-tax (Systems) referred to in rule 36A :
Provided that where the income by way of interest on securities referred to in section 193 or the
Omitted by the IT (Fourth Amendment) Rules, 1997, w.e.f. 19-3-1997.
(1) Where a person responsible for deducting tax under Chapter XVII-B is required to file any return or statement referred to in rule 37 or rule 37A on a computer media, he shall deliver or cause to be delivered such return or statement in accordance with such scheme as may be specified by the Board in this behalf within the time specified under rule 37 or rule 37A, as the case may be.
(2) The return or statement filed on a computer media shall contain all the information required under rule 37 or rule 37A, as the case may be.
(3) The return or statement filed on computer media shall be accompanied by Form No. 27A furnishing the information specified therein.
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2 Substituted by IT (Sixteenth Amendment) R
(1) The information under sub-section (6) of section 195 shall be furnished by the person responsible for making the payment to a non-resident, not being a company, or to a foreign company, after obtaining a certificate from an accountant as defined in the Explanation to section 288 of the Income-tax Act, 1961.
(2) The information to be furnished under sub-section (6) of section 195 shall be in Form No.15CA and shall be verified in the manner indicated therein and the certificate from an accountant referred to in sub-rule (1) shall be obtained in Form No.15CB.
(3) The information in Form No. 15CA shall be furnished electronically to the website designated by the Income-tax Department and thereafter signed printout of the said form shall be submitted prior to remitting the payment.
(4) The Dire
(1) A declaration under sub-section (1A) of section 206C to the effect that any of the gods referred to in the Table in sub-section (1) of that section are to be utilised for the purposes of manufacturing, processing or producing or producing articles or things and not for trading purposes shall be in Form No. 27C and shall be verified in the manner indicated therein.
(2) The declaration referred to in sub-rule (1) shall be furnished in duplicate to the person responsible for collecting tax.
(3) The person referred to in sub-rule (2) shall deliver or cause to be delivered to the Chief Commissioner or Commissioner, one copy of the declaration referred to in sub-rule (1) on or before the seventh day of the month next following the month in which the declaration is furnished to him.
Explanation.
(1) All sums collected in accordance with the provisions of sub-section (1) or sub-section (1C) of section 206C by an office of the Government shall be paid to the credit of the Central Government -
(a) on the same day where the tax is so paid without production of an income-tax challan; and
(b) on or before seven days from the end of the month in which the collection is made, where tax is paid accompanied by an income-tax challan.
(2) All sums collected in accordance with the provisions of sub-section (1) or sub-section (1C) of section 206C by collectors other than an office of the Government shall be paid to the credit of the Central Government within one week from the last day of the month in which the collection is made.
(3) In the case of an of
(1) The certificate of collection of tax at source under sub-section (5) of section 206C to be furnished by the collector shall be in Form 27D.
(2) The certificate referred to in sub-rule (1) shall specify:-
(a) valid permanent account number (PAN) of the collectee;
(b) valid tax deduction and collection account number (TAN) of the collector;
(c) (i) book identification number or numbers where deposit of tax collected is without production of challan in case of an office of the Government;
(ii) challan identification number or numbers in case of payment through bank;
(d) receipt number of the relevant quarterly statement of tax collected at source which is
Every person collecting tax in accordance with the provisions of section 206C shall, in respect of a financial year, deliver or cause to be delivered to the 6[Director General of Income-tax (Systems) or the person or agency authorised by the Director General of Income-tax (Systems)] referred to in rule 37F, the return for collection of tax in Form No.27E by the end of June following the financial year.]
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1. Inserted by the IT (Third Amendment) Rules, 1990, w.e.f. 19-2-1990.
2 Substituted by the IT (Fourth Amendment) Rules, 1997, w.e.f. 19-3-1997. Prior to its substitution the Table, as inserted by the IT (Third Amendment)
(1) Where a person responsible for collecting tax under Chapter XVII-BB is required to file any return referred to in rule 37E on computer media, such person shall deliver or cause to be delivered such return in accordance with such scheme as may be specified by the Board in this behalf within the time specified under rule 37E.
(2) The return filed on the computer media shall contain all the information required under rule 37E.
(3) The return filed on the computer media shall be accompanied by Form No.27B furnishing the information specified therein.]
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1. Inserted by the IT (Twenty-fifth Amendment) Rules, 1999, w.e.f.
The return referred to in rule 37E shall be furnished to the Director General of Income-tax (Systems) or the person or agency authorised by the Director General of Income-tax (Systems);]
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1. Inserted by the IT (Third Amendment) Rules, 1990, w.e.f. 19-2-1990.
2. Substituted by Income-tax (19th Amendment) Rules, 2005 vide Notification No. 178/2005 dated 30.06.2005 for the following:-
37F. 1[Income-tax authority for purposes of section 206C (5A).-The return referred to in rule 37E shall be furnished to :--
(i) the Income-tax Officer so designated by the Chief Commissioner or Commissioner of Income-tax within whose area of jurisdictio
An application by the buyer or licensee or lessee for a certificate under sub-section (9) of section 206C shall be made in Form No.13.]
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1. Rules 37G and 37H inserted by the IT (Twenty-third Amendment) Rules, 1999, w.e.f. 29-6-1999.
2. Substituted for words Form No. 27F. by Income-tax (Twenty-Fourth Amendment) Rules, 2003 w.e.f. 01.10.2003
3. Substituted by Income-tax (Sixteenth Amendment) Rules, 2004 w.e.f. 31.11.2004. for the following:-
37G. 1[Application for certificate for collection of tax at lower rates under sub-section (9) of section 206C.--
An application by a buyer for a certificate under sub-section (9) of section 206C sha
(1) Where the Assessing Officer is satisfied that the total income of the 2[buyer or licensee or lessee] justifies the collection of tax at any lower rate than the relevant rate specified in 3[or sub-section (IC)] of section 206C, he shall, on an application made by the 2[buyer or licensee or lessee] under rule 37G, give to him a certificate in 1[***] for collection of tax at such lower rate than the relevant rate specified in 3[or sub-section (IC)] of that section.
(2) The certificate given under sub-rule (1) shall be valid for the assessment year specified in that certificate, unless it is cancelled by the Assessing Officer at any time before the expiry of the specified period.
(3) An application for a fresh certificate may be made, if required, after the expiry of the period of validity of the earlier certificate given under sub-rule
(1) Credit for tax collected at source and paid to the Central Government in accordance with provisions of section 206C of the Act, shall be given to the person form whom the tax has been collected, on the basis of the information relating to collection of tax furnished by the person responsible for collection of tax at source (hereinafter referred to as the collector) to the income-tax authority or the person authorized by such authority.
(2) (i) Where tax has been collected at source and paid to the Central Government, credit for such tax shall be given for the assessment year for which the income is assessable to tax.
(ii) Where tax has been collected at source and paid to the Central Government and the lease or license is relatable to more than one year, credit for tax collected at source shall be allowed across those years to whic
Notwithstanding anything contained in rule 15, the notice of demand under section 156 to be served upon the asscssee in pursuance of an order under section 210 shall be in Form No. 28.
Omitted by the IT (Tenth Amendment) Rules, 1989, w.e.f. 13-9-1989.
The intimation which an assessee has to send to the Assessing Officer under sub-section (5) of section 210 shall be in Form No. 28A.
The Assessing Officer may reduce or waive the interest payable under section 215 or section 217 in the cases and under the circumstances mentioned below, namely:--
(1) When the relevant assessment is completed more than one year after the submission of the return, the delay in assessment not being attributable to the assessee. (2) Where a person is under section 163 treated as an agent of another person and is assessed upon the latter's income.
(2) Where the assesscc has income from an unregistered firm assessed under the provisions of clause (b) of section 183.Where the previous year is the financial year or any year ending about the close of the financial year and large profits are made after the 1st March (or the 15th March in cases where the proviso to section 211 applies), in circumstances which could not be foreseen.
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Omitted by the IT (Fifth Amendment) Rules, 1989, w.e.f. 18-5-1989. Earlier it was inserted by the IT (Second Amendment) Rules, 1968.
The report of an accountant which is required !o be furnished by the assessee along with the return of income, under sub-section (4) of section 115JB shall be in Form No. 29B.
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1. Inserted by the Income-tax (Nineteenth Amendment) Rules, 2000, w.e.f. 27-9-2000.
The report of an accountant which is required to be furnished by the assessee under sub-section (3) of section 115JC, shall be in Form No.29C.]
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2. Inserted by the Income-tax (9th Amendment) Rules, 2011, w.e.f. 01.04.2012.
(1) For the purposes of clause (ba) of sub-section (1) of section 115WC, the fair market value of any specified security or sweat equity share, being an equity share in a company, on the date on which the option vests with the employee, shall be determined in accordance with the provisions of sub-rule (2) or sub-rule (3).
(2) In a case where, on the date of the vesting of the option, the share in the company is listed on a recognized stock exchange, the fair market value shall be the average of the opening price and closing price of the share on that date on the said stock exchange:
Provided that where, on the date of vesting of the option, the share is listed on more than one recognized stock exchanges, the fair market value shall be the average of opening price and closing price of the share on the recognised stock exchange which recor
For the purposes of clause (ba) of sub-section (1) of section 115WC, the fair market value of any specified security, not being an equity share in a company, on the date on which the option vests with the employee, shall be such value as determined by a merchant banker on the specified date.
Explanation. For the purposes of this rule, merchant banker and specified date shall have the meanings assigned to them in clause (b) and clause (e) respectively of sub-rule (4) of rule 40C.]
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1. Inserted by the Income-tax (Second Amendment) Rules, 2008 Notification No. 11/2008 w.e.f. 01.04.2008.
40E. For the purposes of sub-clause (iii) of clause (B) of sub-section (2) of section 115WB, the non-transferable pre-paid electronic meal card (hereinafter called the "card") shall fulfill the following conditions, namely:-
(i) The card shall be granted by the employer to its employees under a scheme framed by the employer specifying therein the circumstances under which the meal card can be used by the employee.
(ii) The card under clause (i) shall be issued by the issuing bank.
(iii) An employee shall not be issued more than one card.
(iv) The card shall bear the name of the employer along with the name, photograph and signature of the employee to whom the card is issued.
(v) The card shall be used onl
(1) A claim for refund under Chapter XIX shall be made in Form No. 30.
(2) The claim under sub-rule (1) shall be accompanied by a return in the form prescribed under section 139 unless the claimant has already made such a return to the Assessing Officer
(3) Where any part of the total income of a person making a claim for refund of tax consists of dividends or any other income from which tax has been deducted under the provisions of sections 192 to 194, section 194A and section 195, the claim shall be accompanied by the certificates prescribed under section 203.
(4) The claim under sub-rule (1) may be presented by the claimant in person or through a duly authorised agent or may be sent by post.
(1) For the purposes of sub-section (1) of section 230, the prescribed authority shall be the Chief Commissioner of Income-tax or the Director-General of Income-tax, as the case may be, who has jurisdiction over the persons not domiciled in India or any other income-tax authority authorized by such Chief Commissioner or Director General in this behalf.
(2) For the purposes of sub-section (1A) of section 230, the prescribed authority shall be the Chief Commissioner of Income-tax having jurisdiction over the persons domiciled in India or any other income-tax authority authorized by him in this behalf:
Provided that in the case of a person domiciled in India referred to in the first proviso to sub-section (1A) of section 230, the application shall be made to the Assessing Officer who has jurisdiction to assess such person.]
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(1) An undertaking to be furnished to the prescribed authority by a person not domiciled in India from the persons referred to in clause (i) or clause (ii), as the case may be, shall be in Form No. 30A.
(2) A No-Objection Certificate to be issued by the prescribed authority under sub-section (1) of section 230 shall be in Form No. 30B and shall be valid for the period mentioned, therein.
(3) The information to be furnished by a person domiciled in India shall be in Form No. 30C.
(4) An application under the first proviso to sub-section (1A) of section 230 may be made in Form No. 31.
(5) A tax clearance certificate issued under the first proviso to sub-section (1A) of section 230 shall be in Form No. 33 and shall be valid for the period mentioned the
Any person leaving India shall, at the request of any Customs Officer, produce to him for examination the tax clearance certificate or the exemption certificate, as the case may be.
An application under sub-section (2) of section 230A for a certificate under sub-section (1) of that section shall be made in duplicate in Form No. 34A to the Assessing Officer.
Within 60 days of the receipt of the application referred to in rule 44A, the Assessing Officer shall--
(i) if he is satisfied that the applicant has either paid or made satisfactory provision for payment of all existing liabilities under the enactments specified in clause (a) of sub-section (1) of section 230A or that the registration of the document referred to in the application will not prejudicially affect the recovery of any such liability, grant the certificate and forward the same to the registering officer concerned ; or
(ii) if he is not so satisfied, pass an order in writing refusing to grant the certificate, recording his reasons therefor.
(1) An application for settlement of a case under sub-section (1) of section 245C shall be made in quintuplicatc in Form No. 34B 'and shall be verified in the manner indicated therein.
(2) The application referred to in sub-rule (1), the verification appended thereto, the Annexure to the said application and the statements and documents accompanying the Annexure shall be signed by the person specified in sub-rule (2) of rule 45.
(3) Every application in connection with the settlement of a case shall be accompanied by a fee of five hundred rupees.
2[(4) The assessee shall, on the date on which he makes the application to the Settlement Commission, intimate in Form No. 34BA to the Assessing Officer of having made such application to the Commission.]
1[(1) The Settlement Commission shall, while calling for a report from the Commissioner under sub-section (2B) of section 245D, forward a copy of the application in Form No. 34B (other than the Annexure and the statements and other documents accompanying such Annexure) along with a copy of the order under sub-section (1) of section 245D or, as the case may be, an intimation in respect of an application deemed to have been allowed to be proceeded with under sub-section (2A) of that section 245D.
(2) Where an application has not been declared invalid under sub-section (2C) of section 245D or an application has been allowed to be further proceeded with under sub-section (2D) of section 245D, the information contained in the Annexure to the application in Form No. 34B and in the statements and other documents accompanying such Annexure shall be sent to the Commissioner.
(1) The following scale of fees shall be levied by the Settlement Commission for furnishing under section 245G a copy of any report or part of any report made by any income-tax authority to the Settlement Commission :--
For the first two hundred words or less 80 paise
For every additional hundred words or fraction thereof 40 paise.
(2) The fee referred to in sub-rule (1) shall be recovered in advance in cash.
2[(1) An application for obtaining an advance ruling under sub-section (1) of section 245Q shall be made in quadruplicate,--
(a) in Form No. 34C in respect of a non-resident applicant;
3[(b) in Form No. 34D in respect of a resident applicant seeking advance ruling in relation to a transaction undertaken or proposed to be undertaken by him with a non-resident; and
(c) in Form No. 34E in respect of a resident falling within any such class or category of person as notified by the Central Government in exercise of the powers conferred by sub-clause (iii) of clause (b) of section 245N, and shall be verified in the manner indicated therein.]
(2) The application referred to in sub-rule (1), the verification appended thereto, the annexures to the said appli
The copy of the advance ruling pronounced by the Authority to be sent to the applicant and to the Commissioner having jurisdiction over his case, shall be certified to be true copy thereof by the Commissioner or Deputy Commissioner, Authority for Advance Rulings, as the case may be.
(1) Where a resident assessee is aggrieved by any action of the tax authorities of any country outside India for the reason that, according to him, such action is not in accordance with the terms of agreement with such other country outside India, he may make an application to the Competent Authority in India seeking to invoke the mutual agreement procedure, if any, provided therein, in terms of Form No.34F]
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1. Inserted by IT (Amendment) Rules, 2002 w.e.f 06.02.2003.
(1) Where a reference has been received from the competent authority of a country outside India under any agreement with that country with regard to any action taken by any Income-tax authority in India, the Competent Authority in India shall call for and examine the relevant records with a view to give his response to the competent authority of the country outside India.
(2) The Competent Authority in India shall endeavour to arrive at a resolution of the case in accordance with such agreement.
(3) The resolution arrived at under mutual agreement procedure, in consultation with the competent authority of the country outside India, shall be communicated wherever necessary, to the Chief Commissioner or the Director-General of Income-tax, as the case be, in writing.
(4) The effect to the reso
(1) An appeal to 3[***] the commissioner (Appeals) shall be made in Form No. 35.
(2) The form of appeal prescribed by sub-rule (1), the grounds of appeal and the form of verification appended thereto relating to an asscsscc shall be signed and verified by the person who is authorised to sign the return of income under section 140 of the Income-tax Act, 1961, as applicable to the assessee.
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1. Words Deputy Commissioner (Appeals) omitted by the IT (Twentieth Amendment) Rules, 1998, w.e.f. 22-10-1998. Earlier Deputy Commissioner (Appeals) was substituted for Appellate Assistant Commissioner by the IT (Fifth Amendment) Rules, 1989, w.r.e.f. 1-4-1988.
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(1) The intimation of any such order as is referred to in clause (c) of sub-section (2) of section 249 shall be served in the same manner as is laid down in section 282 for the service of a notice or requisition.
(2) Any other order, not being a notice or requisition, which is to be sent or communicated to, or served on, any person shall be sent, communicated or served either by post or as if it were a summons issued by a Court under the Code of Civil Procedure, 1908 (5 of 1908).
(1) The appellant shall not be entitled to produce before the Deputy Commissioner (Appeals) or, as the case may be, the Commissioner (Appeals), any evidence, whether oral or documentary, other than the evidence produced by him during the course of proceedings before the Assessing Officer, except in the following circumstances, namely :--
(a) here the Assessing Officer has refused to admit evidence which ought to have been admitted ; or
(b) here the appellant was prevented by sufficient cause from producing the evidence which he was called upon to produce by the Assessing Officer; or
(c) here the appellant was prevented by sufficient cause from producing before the Assessing Officer any evidence which is relevant to any ground of appeal ; or
(d) here
(1) An appeal under sub-section (1) or sub-section (2) of section 253 to the Appellate Tribunal shall be made in Form No. 36, and where the appeal is made by the assessee, the form of appeal, the grounds of appeal and the form of verification appended thereto shall be signed by the person specified in sub-rule (2) of rule 45.
(2) A memorandum of cross-objections under sub-section (4) of section 253 to the Appellate Tribunal shall be made in Form No. 36A, and where the memorandum of cross-objection is made by the assessee, the form of memorandum of cross-objections, the grounds of cross-objections and the form of verification appended thereto shall be signed by the person specified in sub-rule (2) of rule 45.
Rule 48 of the Income-Tax Rules, 1962, pertains to the procedural aspects of the Income Tax Act, specifically concerning the assessment and compliance requirements for taxpayers. This rule is significant in the context of ensuring that transactions involving immovable properties are conducted in accordance with the provisions of the Income Tax Act.
Rule 48 outlines the procedural requirements for the approval of certain transactions, particularly those that may involve the compulsory purchase of immovable property by the Central Government under Section 269UD of the Income Tax Act.
The scope of Rule 48 is primarily focused on transactions involving immovable properties that may trigger the provisions of Chapter XX-C of the Income Tax Act. It is applicable when the property value exceeds a specified limit, necessitating government approval.
While Rule 48 itself does not prescribe specific punishments, non-compliance with the requirements set forth in this rule may lead to penalties under the Income Tax Act, including the possibility of the transaction being declared void.
Omitted by the IT (Fifth Amendment) Rules, 1989, w.e.f. 18-5-1989.
Omitted by the IT (Fifth Amendment) Rules, 1989, w.e.f. 18-5-1989.
Omitted by the IT (Fifth Amendment) Rules, 1989, w.e.f. 18-5-1989.
Where any immovable property is situate within the local limits of the jurisdiction of two or more competent authorities, the competent authority within whose jurisdiction the office of the registering officer who registered the instrument of transfer in respect of such property is situate shall be the competent authority to perform the functions of competent authority under Chapter XXA in relation to such property.
(1) The statement required to be registered with the competent authority under sub-section (2) of section 269AB shall be in Form No. 37EE and shall be signed and verified in the manner indicated therein by each of the parties to the transaction referred to in sub-section (1) of that section or by any of the parties to such transaction acting on behalf of himself and on behalf of the other parties.
(2) The statement in Form No. 37EE shall be made in duplicate and shall be furnished to the competent authority within a period of thirty days from the date on which the transaction referred to in sub-section (1) of section 269AB takes place :
Provided that in relation to any such transaction which has taken place between the 1st day of July, 1982 and the date of the publication of the Income-tax (Eighth Amendment) Rules, 1982 in the Official G
The substance of the notice under sub-section (1) of section 269D in respect of any immovable property shall be made known in the locality in which such properly is situate by proclamation in the language of the District by beat of drum or other customary mode.
The statement required to he furnished to the registering officer under subsection (1) of section 269P shall be in Form No. 37G, and shall be signed and verified by the transferee in the manner indicated therein.
The return to be forwarded by the registering officer to the competent authority under clause (b) of sub-section (2) of section 269P shall be in Form No.37H and be verified in the manner indicated therein.
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