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The Central Board of Direct Taxes amends the Income-tax Rules, 1962, to modify Form No. 15H. The amendment applies to persons who accept tax declarations. Such a person accepts the declaration if the income of the assessee exceeds the normal declaration limit but the tax liability is nil after the rebate under section 87A applies.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 22nd May, 2019 INCOME-TAX
G.S.R. 375(E),— In exercise of the powers conferred by sub-section (1C) of section 197A 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:___
“Provided that such person shall accept the declaration in a case where income of the assessee, who is eligible for rebate of income-tax under section 87A, is higher than the income for which declaration can be accepted as per this note, but his tax liability shall be nil after taking into account the rebate available to him under the said section 87A.”.
[Notification No. 41/2019/F. No. 370142/5/2019-TPL] SAURABH GUPTA, Under Secy. (Tax Policy & Legislation)
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 G.S.R. No. 304(E), dated 12th April, 2019.
