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The Central Board of Direct Taxes issues the Income-tax (21st Amendment) Rules, 2017 to amend Form No. 3CEFA in Appendix II of the Income-tax Rules, 1962. The rules add employee cost details to Sl. No. 3 under Eligible International Transaction. The rules add loan currency and credit rating details to Sl. No. 4. The rules insert a new Sl. No. 10 to capture details about low value-adding intra-group services. The amendments take effect retrospectively from the 1st day of April, 2017.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 18th July, 2017 INCOME-TAX
G.S.R. 891(E).—In exercise of the powers conferred by section 295 read with sub-section (2) of section 92CB 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:___
(f) Whether credit rating of AE has been done? If yes, the credit rating rank and the name of the credit rating agency
”;
| Sl. No. | Particulars in respect of eligible international transaction | Remarks |
|---|---|---|
| “10. |
Has the eligible assessee entered into any international transaction
in respect of receipt of low value-adding intra-group services as referred to in item (x) of rule 10TC? If yes, provide the following details:
whom the eligible international transaction has been entered into.
or territory as defined in rule 10TA.
circumstances specified under rule 10TD. ”; |
Yes
No |
[Notification No. 62 /2017/ F. No. 370142/ 20/2017-TPL] RAJESH KUMAR KEDIA, Director (Tax Policy and 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 number G.S.R. 865(E), dated the 12th July, 2017.
