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The Central Government issues the Income-tax (35th Amendment) Rules, 2016 to amend rule 114F of the Income-tax Rules, 1962. The rules update references within the Explanation to clause (1) of rule 114F. These changes apply retrospectively from the 7th August, 2015. The notification certifies that no person suffers any adverse effect due to this retrospective effect.
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MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 21st December, 2016 S.O.4110(E).— In exercise of the powers conferred by section 285BA read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:—
(2) They shall be deemed to have come into force from the 7th August, 2015. 2. In the Income-tax Rules, 1962, in rule 114F, in clause (1), in the Explanation,— (I) in clause (g), in sub-clause (D), for the words, brackets and letters “in sub-clause (ii)”, the words, brackets and letter “in sub-clause (B)” shall be substituted; (II) in clause (h),—
(1) in sub-clause (i), in item (E), in the Explanation, for the words, brackets, letters and figure “item (A) or (B) or from one or more retirement or pension funds that meets with the requirements of clauses (e), (f) or (g) of Explanation to clause (1)”, the words, brackets, letters and figure “sub- clauses (i) or (ii) or from one or more retirement or pension funds that meets with the requirements of clauses (E), (F) or (G) of Explanation to clause (5)” shall be substituted;
(2) in sub-clause (ii), in item (D), in the Explanation, for the words, brackets, letters and figure “item (A) or (B) or from one or more retirement or pension funds that meets the requirements of clauses (e), (f) or (g) of Explanation to clause (1)”, the words, brackets, letters and figure “sub-clauses (i) or (ii) or from one or more retirement or pension funds that meets with the requirements of clauses (E), (F) or (G) of Explanation to clause (5)” shall be substituted.
[Notification No. 120/2016/F.No.370142/06/2016-TPL] Dr. T.S. MAPWAL, Under Secy. Note: It is certified that by giving retrospective effect to the present notification, no one will be adversely effected in this regard.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054. Nishok Kumar Paria Digitally signed by Nishok Kumar Paria Date: 2016.12.22 19:54:50 +05'30'
