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The Central Board of Direct Taxes amends the Income-tax Rules, 1962. The update changes specific letter references in rule 67, sub-rule (2). The rules apply from the 1st day of April, 2021. The amendment applies from Assessment Year 2021-22 and subsequent years.
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MINISTRY OF FINANCE (Department of Revenue) (Central Board of Direct Taxes) NOTIFICATION New Delhi, the 22nd October, 2020.
G.S.R. 664(E).—In exercise of the powers conferred by sub-section (1) of 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:-
(2) They shall come into force from the 1st day of April, 2021.
(i) in the fifth proviso, for the letters “AA”, the letter “A” shall be substituted;
(ii) in the eighth proviso, for the letters, “AA”, the letter “A” shall be substituted; and
(iii) in the eleventh proviso, for the letters, “AA” occurring at both the places, the letter “A” shall be substituted.
[Notification No. 84/2020/F. No. 370149/76/2019-TPL] GUDRUN NEHAR, Director (TPL-II)
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 last amended vide notification number G.S.R No.610 (E) dated 1st October, 2020.
Explanatory Memorandum
Notification No.84 /2020, dated 22 October, 2020
Vide Notification No. 84 /2020, dated 22 October, 2020, Rule 67 of the Income-tax Rules, 1962 has been amended. The said amendment shall be effective from Assessment Year 2021-22 and subsequent years.
