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The Central Board of Direct Taxes amends the Income-tax Rules, 1962 by inserting new provisos in rule 10V. The new rules apply the provisions of sub-rules (3) to (12) of rule 10VA to applications made under the second proviso. The provisions of sub-rule (3) of rule 10VA do not apply to applications made under the second proviso for the previous year beginning on the 1st day of April, 2021 if they are made on or before the 1st day of February, 2021.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 9th March, 2021 INCOME-TAX
G.S.R. 162(E).—In exercise of the powers conferred by clause (m) of sub-section (3) of section 9A read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
(1) These rules may be called the Income-tax (2nd Amendment) Rules,
In the Income-tax Rules, 1962, in rule 10V, in sub-rule (12), after the second proviso and before the Explanation, the following provisos shall be inserted, namely:-
“Provided also that the provisions of sub-rules (3) to (12) of rule 10VA shall, mutatis mutandis, apply to the application made under the second proviso as they apply to application made under sub- rule (2) of the said rule:
Provided also that the provisions of sub-rule (3) of rule 10VA shall not apply to an application made under the second proviso, if it is for the previous year beginning on the 1st day of April, 2021, and made on or before the 1st day of February, 2021.”.
[Notification No. 13/2021/ F. No. 142/15/2015-TPL] VIPUL AGARWAL, Director (Tax Policy and Legislation Division)
Note : The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub- section (ii), vide number S.O. 969 (E), dated the 26th March, 1962 and were last amended vide notification number G.S.R. 155(E) dated the 5th March, 2021.
