Income Declaration Scheme (Second Amendment) Rules, 2016

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THE GAZETTE OF INDIA : EXTRAORDINARY

[PART II—SEC. 3(ii)]

MINISTRY OF FINANCE

(Department of Revenue)

(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION

New Delhi, the 12th August, 2016

S.O. 2705(E).— In exercise of the powers conferred by sub-section (1) and sub-section (2) of section 199 of the Finance Act, 2016 (28 of 2016), the Central Board of Direct Taxes, makes the following rules further to amend the Income Declaration Scheme Rules, 2016 (hereinafter referred to as the principal rules) namely:-

1. (1) These rules may be called the Income Declaration Scheme, (Second Amendment) Rules, 2016.

• (2) These rules shall come into force from the date of their publication in the Official Gazette.

2. In the principal rules, in rule 4, in sub-rule (5), after the words “submission of proof of”, insert the words “full and final”.

3. In the principal rules, in Form-2, after the table, for the portion beginning with the words “The declarant is hereby directed” and ending with the words “shall be deemed never to have been made.” the following shall be substituted, namely:-

“The declarant is hereby directed to make the payment of sum payable as per column (5) of the above table, as specified below:-

• (i) an amount not less than twenty-five per cent. of the sum payable on or before 30th day of November, 2016;
• (ii) an amount not less than fifty per cent. of the sum payable as reduced by the amount paid under clause (i) above on or before 31st day of March, 2017;
• (iii) the whole of the sum payable as reduced by the amount paid under clause (i) and (ii) above on or before 30th day of September, 2017.

In case of non-payment of the amount as specified above, the declaration under Form-1 shall be treated as void and shall be deemed never to have been made.”.

4. In the principal rules for Form-3, the following Form shall be substituted, namely:-

“INTIMATION OF PAYMENT UNDER SUB-SECTION (1) OF SECTION 187 OF THE FINANCE ACT, 2016 IN RESPECT OF THE INCOME DECLARATION SCHEME, 2016

THE INCOME DECLARATION SCHEME RULES, 2016

Form 3

[See rule 4(4)]

To,

The Principal Commissioner/Commissioner

……………………………………

Sir/Madam,

1. Pursuant to the acknowledgement received from you in Form-2 vide certificate F.No._________ dated _______, the detail of payments made are as under:

A. Payments made on or before 30th day of November, 2016

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**B. Payments made after 30th day of November, 2016 but on or before 31st day of March, 2017

**C. Payments made after 31st day of March, 2017 but on or before 30th day of September, 2017

**D. Details of claim of credit for Tax Deducted at Source/Tax Collected at Source (TDS/TCS)

*Attach proof of payment/ TDS/TCS certificate as detailed above

VERIFICATION

I ………………………………………………son/daughter/wife of Shri ……………………………… hereby declare that the income related to TDS/TCS for which credit is claimed has been included in the income declared in Form-1 and credit of such TDS/TCS has not been claimed earlier. I further declare that I am furnishing the information in my capacity as ……………………………(designation) of ………………………………(name of the declarant) and I am competent to furnish the said information and verify it.

Place: ……………..

………………… Signature

Date: ……………..

…………………….. Address of the declarant

…………………………… PAN of the declarant

Note: **Strike off whichever is not applicable

The form is to be furnished on or before the dates notified for making payments under the Scheme viz. 30.11.2016, 31.03.2017 and 30.09.2017.”.

[Notification No. 70/2016, F. No. 142/8/2016-TPL]

Dr. T.S. MAPWAL, Under Secy.

Note : The principal rules were published vide notification number S.O. 1831(E) dated the 19th May, 2016 and amended vide notification number S.O. 2477(E) dated the 20th July, 2016.