Document text
6
THE GAZETTE OF INDIA : EXTRAORDINARY
[PART II—SEC. 3(i)]
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 4th April, 2022
G.S.R. 256(E).— In exercise of the powers conferred by section 89A 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. Short title and commencement:- (1) These rules may be called the Income-tax (6th Amendment), Rules, 2022.
(2) They shall come into force from the date of their publication in the Official Gazette.
2. In the Income-tax Rules, 1962 (hereafter referred to as the principal rules), after rule 21AA, the following rules
shall be inserted, namely:—
―21AAA. Taxation of income from retirement benefit account maintained in a notified country – (1)
Where a specified person has income accrued in a specified account or accounts, during a previous year relevant to
any assessment year beginning on or after the 1st day of April, 2022, such income shall, at the option of the specified
person, be included in his total income of the previous year relevant to the assessment year in which income from the
said specified account or accounts is taxed at the time of withdrawal or redemption, as the case may be, in the notified
country.
(2) Where the option has been exercised by a specified person under sub-rule (1), the total income of the
specified person for the previous year in which income is taxable under sub-rule (1) shall not include the income
which,—
(a) has already been included in the total income of such specified person in any of the earlier previous
years during which such income accrued and tax thereon has been paid in accordance with the provisions
of the Act; or
(b) was not taxable in India, in the previous year during which such income accrued, on account of,—
(i)
such specified person being a non-resident, or not ordinarily resident referred to in clause (6) of
section 6, during that previous year; or
(ii)
application of the Double Taxation Avoidance Agreement, if any,
and the foreign tax paid on such income, if any, shall be ignored for the purposes of computation of the foreign tax
credit under rule 128.
(3) The option under sub-rule (1) shall be exercised by the specified person in respect of all the specified accounts
maintained by the specified person.
(4) In a case where the specified person becomes a non-resident during any relevant previous year, then-
(i) the option exercised under sub-rule (1) shall be deemed to have never been exercised with effect from the
relevant previous year; and
(ii) the income which has accrued in the specified account or accounts during the period, beginning with the
previous year in respect of which the option under sub-rule (1) was exercised and ending with the previous
year immediately preceding the relevant previous year, shall be taxable during the previous year immediately
preceding the relevant previous year and tax shall be paid on or before the due date for furnishing the return
of income for the relevant previous year.
(5) The option to be exercised under sub-rule (1) by the specified person, for any previous year relevant to the
assessment year beginning on or after the 1st day of April, 2022, shall be in Form No. 10-EE and it shall be furnished
electronically under digital signature or electronic verification code on or before the due date specified under sub-
section (1) of section 139 of the Act, for furnishing the return of income.
(6) Subject to the provisions of sub-rule (4), the option once exercised for a specified account or accounts in respect of
a previous year under sub-rule (1) in Form No. 10- EE shall apply to all subsequent previous years and cannot be
subsequently withdrawn for the previous year for which the option was exercised or any previous year subsequent to
that previous year.
[भागII—खण् ड 3(i)]
भारत का राजपत्र : असाधारण
7
(7) The Principal Director-General of Income-tax (Systems) or Director-General of Income-tax (Systems), as the case
may be, shall specify the procedures, formats and standards for ensuring secure capture and transmission of data and
shall be responsible for evolving and implementing appropriate security, archival and retrieval policies in respect of
Form No. 10-EE.
Explanation.— For the purposes of this rule,-
(i)
―due date‖ shall have the meaning assigned to it in Explanation 2 to sub-section (1) of section 139 of
the Act;
(ii)
―notified country‖, ―specified account‖ and ―specified person‖ shall have the meaning assigned to
them in the Explanation to section 89A of the Act;
(iii) ―relevant previous year‖ shall mean the previous year during which the specified person becomes non-
resident subsequent to the previous year in respect of which option under sub-rule (1) has been
exercised.‖.
3. In the principal rules, in the Appendix-II, after Form No. 10E, the following form shall be inserted, namely :-
“FORM No. 10-EE
[See sub-rule (1) of rule 21AAA]
S. No.
1.
Name of the specified person
:
2.
PAN of specified person
:
3.
Address of specified person
:
4.
Previous year in respect of which option is being
exercised
: yyyy - yyyy
5.
Details of all the specified accounts maintained by the specified person
S.No.
Account number
Name of
Retirement Fund
Name of
notified
Country
< select
from drop
down>
Balance as
on last day
of the
financial
year prior
to the
previous
year for
which this
Form is
being
filled
Year in which
account opened
<dd.mm.yyyy>
(i)
(ii)
(iii)
(iv)
(v)
(vi)
Specify how the income
from specified account is
taxable in the notified
country ($)
< Select relevant code>
Specify the previous year in
which the income from
specified account is eligible to
be withdrawn
(yyyy-yyyy)
Nature of Income ($$)
< Select relevant code>
Amount of income from the
specified account which has
already been included in the
income
of
any
earlier
previous year during which
such income accrued as
referred to in -clause (a) of
sub-rule (2).
(in Rs)
8
THE GAZETTE OF INDIA : EXTRAORDINARY
[PART II—SEC. 3(i)]
(vii)
(viii)
(ix)
(x)
Specify the previous year
or years in which amount
referred to in column (x)
has been included
(yyyy-yyyy)
Amount of Income from
the specified account
which was not taxable in
India due to reasons
referred in clause (b) of
sub-rule (2) of rule
21AAA (in Rs)
Specify the previous year
or years in which amount
referred to in column (xii)
is exempt on account of the
specified
person
being
―non-resident‖
or
―not
ordinarily resident‖
(yyyy-yyyy)
Whether return of
income for the
previous year referred
to in column (xii) was
furnished in India?
Yes/No
(If yes, please quote
acknowledgement
numer)
(xi)
(xii)
(xiii)
(xiv)
6. Details of option being exercised —
The income accrued in specified accounts as specified in paragraph 5, shall be
included in the total income for the previous year relevant to the assessment year in
which income from the said specified account has been taxed or taxable in the
notified country at the time of withdrawal or redemption
: Yes/No
Declaration
I, __________________________________________________________________ (Name in full and in block
letters) son/daughter/wife of __________________________________________ do hereby declare that to the best of
my knowledge and belief what is stated in the form above is correct and complete. I further declare that I am
competent to make this declaration and furnish this statement.
2.
I hereby declare that I have exercised the option as per paragraph 6 for all the specified accounts mentioned
in paragraph 5.
3.
I understand that the above option, once exercised for any previous year, cannot be subsequently withdrawn
for the previous year for which option is exercised or any previous year subsequent to that previous year.
Place:
Date:
Yours faithfully,
Name…………………………………
Address…………………….…………
Note :—
(i)
Option once exercised in respect of a previous year, as specified in paragraph 4, shall be applicable to all
subsequent years, under sub-rule (6) of rule 21AAA.
(ii) ($) For column (vii) in paragraph 5, select the following codes:—
Code
1
Accrual basis
2
Receipt basis
3
Any other basis, specify
[भागII—खण् ड 3(i)]
भारत का राजपत्र : असाधारण
9
(iii) ($$) For column (ix) in paragraph 5 select the following codes:
Code
1
Salary
2
Interest
3
Dividend
4.
Others, specify
(iv)
Please attach a copy of statement of the specified account as an evidence of,-
(a) the account number of all the specified accounts;
(b) the notified country in which such account has been opened; and
(c) the balance in the specified account as on last date of the financial year prior to the previous year in
which the present Form 10-EE is submitted.
(v)
Please attach documentary evidence to show how the income from specified account has been taxed or is
taxable in the notified country (relevant statutory provision of the notified country or any other relevant
document may be attached).
(vi)
Please attach the computation of income for all the previous years [as per column (x) of paragraph 5] in
which the income from specified account has already been included in the total income. The
computation has to be reconciled with the return of income for the said previous years. A reconciliation
statement of the computation of income [as per column (x) of paragraph 5] has to be furnished along
with the Form.‖.
[Notification No. 24/2022 [F. No. 370142/7/2022-TPL]
NEHA SAHAY, Under Secy.
Note:- Principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii) vide
notification number S.O. 969, dated the 26th March, 1962 and was last amended vide notification number
G.S.R 252 dated 1st April, 2022
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.
