Income-Tax 11th Amendment Rules, 2020

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 28th May, 2020 INCOME-TAX

G.S.R. 329(E).—In exercise of the powers conferred by section 285BB 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 (11th Amendment) Rules, 2020.

• (2) They shall come into force with effect from the 1st day of June, 2020.

2. In the Income-tax Rules, 1962 –

• (I) rule 31AB shall be omitted;
• (II) after rule 114H, the following rule shall be inserted, namely:- “Annual Information Statement 114-I. (1) The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) or any person authorised by him shall, under section 285BB of the Income-tax Act,1961, upload in the registered account of the assessee an annual information statement in Form No. 26AS containing the information specified in column (2) of the table below, which is in his possession within three months from the end of the month in which the information is received by him:─

TABLE

• (2) The Board may also authorise the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) or any person authorised by him to upload the information received from any officer, authority or body performing any function under any law or the information received under an agreement referred to in section 90 or section 90A of the Income-tax Act,1961 or the information received from any other person to the extent as it may deem fit in the interest of the revenue in the annual information statement referred to in sub-rule (1).
• (3) The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) shall specify the procedures, formats and standards for the purposes of uploading of annual information statement referred to in sub-rule (1).”
• (III) in Appendix II, Form 26AS shall be substituted by the following Form, namely:- ― Form 26AS Annual Information Statement [See rule 114-I ] Financial Year: XXXX-XX Assessment Year: XXXX-XX Part A Permanent Account Number:

Aadhaar Number:

Name :

Date of Birth/Incorporation:

Mobile No. :

Email Address :

Address:

Part B Sl. No Nature of information

1. Information relating to tax deducted or collected at source
2. Information relating to specified financial transaction
3. Information relating to payment of taxes
4. Information relating to demand and refund
5. Information relating to pending proceedings
6. Information relating to completed proceedings
7. Any other information in relation to sub-rule (2) of rule 114-I ‖

[Notification No. 30/2020/F. No. 370142/20/2020-TPL] ANKUR GOYAL, Under Secy.

Note : The principal rules were published in the Gazetted of India, Extraordinary, Part II Section 3, Sub-section (ii) vide number S.O. 969 (E) dated the 26th March, 1962 and last amended by the Income-tax (10th Amendment) Rules, 2020 vide notification No. G.S.R. 315(E), dated the 27-5-2020.