Executive Summary:
This notification from the Central Board of Direct Taxes amends the Income-tax Rules of 1962, introducing new rules regarding the exercise of an option under subsection 4 of section 115BA of the Income-tax Act, 1961. It specifies the use of Form No. 10IB for domestic companies to exercise this option, which must be furnished electronically for assessment years beginning on or after April 1, 2017. These rules came into force on the date of their publication in the Official Gazette, May 2, 2017.
Key Points / Main Content:
* **Amendment to Income-tax Rules, 1962:**
* The notification introduces amendments to the Income-tax Rules, 1962.
* **Introduction of Rule 21AD:**
* Rule 21AD is inserted after rule 21AC in the Income-tax Rules, 1962.
* **Exercise of Option under Section 115BA(4):**
* Domestic companies must use Form No. 10IB to exercise the option under subsection 4 of section 115BA.
* This option applies to previous years relevant to assessment years beginning on or after April 1, 2017.
* **Form No. 10IB Submission:**
* Form No. 10IB must be furnished electronically.
* Electronic submission requires either a digital signature or an electronic verification code.
* **Responsibilities of Principal Director General of Income-tax Systems/Director General of Income-tax Systems:**
* Shall specify the procedure for filing Form No. 10IB.
* Shall specify the data structure, standards, and manner of generating electronic verification codes for verification purposes.
* Responsible for formulating and implementing appropriate security, archival, and retrieval policies for the forms furnished.
* **Insertion of Form No. 10IB:**
* Form No. 10IB is inserted after Form No. 10IA in the principal rules.
* The form includes fields for:
* Company name and registered address.
* Permanent Account Number (PAN).
* Confirmation that the option is being exercised under section 115BA(4).
* Details of the company, including whether it is a domestic company.
* Date of Incorporation.
* Nature of business or activities.
* **Irrevocability of Option:**
* The option, once exercised, cannot be withdrawn for the same or any subsequent previous year.
* **Compliance with Section 115BA:**
* The company must affirm that it satisfies the conditions stipulated in section 115BA of the Act.
* **Signature Requirement:**
* The option form must be signed by the principal officer.
Impact Analysis:
* **Domestic Companies:**
* *Impact:* Domestic companies intending to avail the benefits under section 115BA(4) of the Income-tax Act, 1961, are directly affected. They are now required to use Form No. 10IB to exercise this option.
* *Action Required:* These companies must fill out Form No. 10IB electronically, using either a digital signature or electronic verification code, and ensure compliance with the conditions stipulated in section 115BA. They must also understand that the option, once exercised, is irrevocable.
* **Central Board of Direct Taxes (CBDT):**
* *Impact:* The CBDT is responsible for implementing and overseeing these new rules and ensuring their effective administration.
* *Action Required:* The CBDT, through the Principal Director General of Income-tax Systems or the Director General of Income-tax Systems, must specify the procedure for filing Form No. 10IB, define data standards for electronic verification, and establish security and data management policies.
* **Principal Director General of Income-tax Systems/Director General of Income-tax Systems:**
* *Impact:* These entities are responsible for ensuring the smooth electronic filing and verification of Form No. 10IB.
* *Action Required:* They must establish and communicate the procedures for electronic filing, specify data structures and standards for electronic verification codes, and implement robust security and data management policies for the submitted forms.
* **Assessing Officers:**
* *Impact:* Assessing Officers will receive and process Form No. 10IB from domestic companies.
* *Action Required:* Assessing Officers must be familiar with the new rules and procedures for processing Form No. 10IB and verifying the eligibility of companies claiming benefits under section 115BA(4).
Key Entities Referenced
Income-tax Rules, 1962: Rules related to the Income-tax Act, 1961, which are being amended by this notification.
Income-tax Act, 1961: A law in India related to income tax, mentioned as the basis for the current notification.
Central Board of Direct Taxes: An organization responsible for making rules related to income tax.
Section 115BA: A specific section of the Income-tax Act, 1961 related to provisions for domestic companies.
Form No. 10IB: A form to be used for exercising the option under subsection 4 of section 115BA of the Income tax Act, 1961
Principal Director General of Income-tax Systems: An authority responsible for specifying the procedure for filing Form No. 10IB.
Director General of Income-tax Systems: An authority responsible for specifying the procedure for filing Form No. 10IB.
New Delhi: The city where the notification was issued.
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EXTRAORDINARY
Hkkx II—[k.M 3—mi&[k.M (ii)
PART II—Section 3—Sub-section (ii)
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PUBLISHED BY AUTHORITY
la- 1221] ubZ fnYyh] eaxyokj] ebZ 2] 2017@oS'kk[k 12] 1939
No. 1221] NEW DELHI, TUESDAY, MAY 2, 2017/VAISAKHA 12, 1939
ििििवववव(cid:7275)(cid:7275)(cid:7275)(cid:7275) ममममं(cid:7074)ं(cid:7074)ं(cid:7074)ं(cid:7074)ााााललललयययय
((((ररररााााजजजज(cid:7021)(cid:7021)(cid:7021)(cid:7021)वववव ििििववववभभभभाााागगगग))))
((((कककक(cid:7286)(cid:7286)(cid:7286)(cid:7286)(cid:7076)(cid:7076)(cid:7076)(cid:7076)ीीीीयययय (cid:7079)(cid:7079)(cid:7079)(cid:7079)(cid:7004)(cid:7004)(cid:7004)(cid:7004)यययय(cid:6979)(cid:6979)(cid:6979)(cid:6979) ककककरररर बबबबोोोोडडडड(cid:6981))(cid:6981))(cid:6981))(cid:6981))
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:7408)द(cid:7016)ली, 2 मई, 2017
आआआआयययय----ककककरररर
ककककाााा....आआआआ.... 1111333388881111((((अअअअ)))).—क(cid:7286)(cid:7076)ीय (cid:7079)(cid:7004)य(cid:6979) कर बोड,(cid:6981) आय-कर अिधिनयम, 1961 (1961 का 43) क(cid:7409) धारा 115खक के
साथ प(cid:7407)ठत धारा 295 (cid:7367)ारा (cid:7079)द(cid:7275) शि(cid:7334)य(cid:7298) का (cid:7079)योग करते (cid:7263)ए, आय-कर िनयम, 1962 का और संशोधन करन े के िलए
िन(cid:7388)िलिखत िनयम बनाता ह,ै अथा(cid:6981)त् :--
1.(cid:32) (1) इन िनयम(cid:7298) का संि(cid:6979)(cid:7385) नाम आय-कर (नौवां संशोधन) िनयम, 2017 ह ै ।
(2) ये उनके राजप(cid:7074) म(cid:7286) (cid:7079)काशन क(cid:7409) तारीख को (cid:7079)वृ(cid:7275) ह(cid:7298)गे ।
2. आय-कर िनयम, 1962 (िजसे इसम(cid:7286) इसके प(cid:7391)ात् मूल िनयम कहा गया ह)ै म(cid:7286) िनयम 21कग के प(cid:7391)ात् िन(cid:7388)िलिखत
िनयम अंत:(cid:7021)थािपत (cid:7408)कया जाएगा, अथा(cid:6981)त् :--
"22221111ककककघघघघ.... धधधधाााारररराााा 111111115555खखखखकककक कककक(cid:7409)(cid:7409)(cid:7409)(cid:7409) उउउउपपपपधधधधाााारररराााा ((((4444)))) ककककेेेे अअअअधधधधीीीीनननन ििििववववकककक(cid:7016)(cid:7016)(cid:7016)(cid:7016)पपपप ककककाााा उउउउपपपपययययोोोोगगगग————(1) (cid:7408)कसी (cid:7390)ि(cid:7334), जो दशे ीय कंपनी ह,ै
(cid:7367)ारा धारा 115खक क(cid:7409) उपधारा (4) के परंतकु (cid:7298) के अनसु ार 1 अ(cid:7079)ैल, 2017 को या उसके प(cid:7391)ात् आरंभ होन े वाल े
िनधा(cid:6981)रण वष(cid:6981) स े सुसंगत पूव(cid:6981) वष(cid:6981) के िलए िवक(cid:7016)प का उपयोग (cid:7079)(cid:7272)प सं. 10झख म(cid:7286) होगा ।
(2) उपिनयम (1) म(cid:7286) िन(cid:7416)द(cid:7397) (cid:7079)(cid:7272)प 10झख के िवक(cid:7016)प को इलै(cid:6989)(cid:7069)ािनक(cid:7409) (cid:7272)प म(cid:7286) या तो अंक(cid:7409)य ह(cid:7021)ता(cid:6979)र या
इलै(cid:6989)(cid:7069)ािनक(cid:7409) स(cid:7004)यापन कूट के अधीन (cid:7079)(cid:7021)तुत (cid:7408)कया जाएगा ।
2885 GI/2017 (1)(cid:32)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
(3) यथाि(cid:7021)थित, (cid:7079)धान आय-कर महािनदशे क ((cid:7079)णाली) या आय-कर महािनदशे क ((cid:7079)णाली) –
(i)(cid:32) उपिनयम (2) म(cid:7286) िन(cid:7416)द(cid:7397) (cid:7079)(cid:7272)प को भरने क(cid:7409) (cid:7079)(cid:7408)(cid:7059)या िविन(cid:7416)द(cid:7397) करेगा ;
(ii)(cid:32) उपिनयम (2) म(cid:7286) िन(cid:7416)द(cid:7397) (cid:7079)(cid:7272)प को (cid:7079)(cid:7021)तुत करने वाले (cid:7390)ि(cid:7334) के स(cid:7004)यापन के (cid:7079)योजन के िलए उ(cid:7334)
उपिनयम म(cid:7286) िन(cid:7416)द(cid:7397) डाटा (cid:7021)(cid:7069)(cid:6989)चर, मानक(cid:7298) और इलै(cid:6989)(cid:7069)ािनक(cid:7409) स(cid:7004)यापन कूट के सृजन को िविन(cid:7416)द(cid:7397)
करेगा ; और
(iii)(cid:32) इस (cid:7079)कार (cid:7079)(cid:7021)तुत (cid:7079)(cid:7272)प के सबं ंध म(cid:7286) समुिचत सुर(cid:6979)ा अिभलेखागार और पुन: (cid:7079)ाि(cid:7385) नीितय(cid:7298)
क(cid:7409) िवरचना और काया(cid:6981)(cid:7008)वयन के िलए उ(cid:7275)रदायी होगा ।";
3. मूल िनयम(cid:7298) म(cid:7286) (cid:7079)(cid:7272)प सं. 10झक के प(cid:7391)ात् िन(cid:7388)िलिखत (cid:7079)(cid:7272)प अंत:(cid:7021)थािपत (cid:7408)कया जाएगा, अथा(cid:6981)त् :-
""""(cid:7079)(cid:7079)(cid:7079)(cid:7079)(cid:7272)(cid:7272)(cid:7272)(cid:7272)पपपप सससस..ंं..ंं 11110000झझझझखखखख
[दखे (cid:7286) िनयम 21कघ का उपिनयम (1)]
आआआआयययय----ककककरररर अअअअििििधधधधििििननननययययमममम,,,, 1111999966661111 कककक(cid:7409)(cid:7409)(cid:7409)(cid:7409) धधधधाााारररराााा 111111115555खखखखकककक कककक(cid:7409)(cid:7409)(cid:7409)(cid:7409) उउउउपपपपधधधधाााारररराााा ((((4444)))) ककककेेेे अअअअधधधधीीीीनननन ििििववववकककक(cid:7016)(cid:7016)(cid:7016)(cid:7016)पपपप ककककाााा उउउउपपपपययययोोोोगगगग ककककररररनननन ेे ेेककककेेेे ििििललललएएएए
आआआआववववेदेदेदेदनननन
सेवा म(cid:7286),
िनधा(cid:6981)रण अिधकारी,
..........................
महोदय/महोदया,
म(cid:7289) ............ (कंपनी का नाम और रिज(cid:7021)(cid:7069)ीकृत पता) क(cid:7409) ओर स े धारा 115खक क(cid:7409) उपधारा (4) के अधीन
िवक(cid:7016)प का उपयोग करत े (cid:7263)ए, िजसका ................ (cid:7021)थायी लेखा सं(cid:6990)यांक (पेन) ह ै । एतत(cid:7367)ारा आय-कर
अिधिनयम, 1961 क(cid:7409) धारा 115खक क(cid:7409) उपधारा (4) म(cid:7286) िन(cid:7416)द(cid:7397) िवक(cid:7016)प का पूव(cid:6981) वष(cid:6981) 20.... और प(cid:7391)ातवत(cid:7278) वष(cid:7300)
के िलए उपयोग करता (cid:7264) ं ।
2. कंपनी के (cid:7011)यौरे नीचे (cid:7408)दए अनुसार ह (cid:7289) ।
(i)(cid:32) धारा 115खक क(cid:7409) उपधारा (4) के अधीन
िवक(cid:7016)प का उपयेाग करने वाली कंपनी का नाम
(ii)(cid:32) (cid:6989)या ये दशे ीय कंपनी ह ै या नह(cid:7277)
(iii)(cid:32)पेन
(iv)(cid:32)रिज(cid:7021)(cid:7069)ीकृत पता
(v)(cid:32) िनगमन क(cid:7409) तारीख
(vi)(cid:32)कंपनी के कारबार या काय(cid:6981)कलाप(cid:7298) क(cid:7409) (cid:7079)कृित¹Hkkx IIµ[k.M 3(ii)º Hkkjr dk jkti=k % vlk/kj.k 3
3. म(cid:7289) यह जानता (cid:7264) ं (cid:7408)क (cid:7408)कसी पूव(cid:6981) वष(cid:6981) के िलए एक बार पूव(cid:7299)(cid:7334) िवक(cid:7016)प का उपयोग करने के प(cid:7391)ात् उसी या
(cid:7408)कसी अ(cid:7008)य पूव(cid:6981) वष(cid:6981) के िलए उसे वापस नह(cid:7277) िलया जा सकता ह ै ।
4. म(cid:7289) यह भी पुि(cid:7397) करता (cid:7264) ं (cid:7408)क अिधिनयम क(cid:7409) धारा 115खक म(cid:7286) उपद(cid:7414)शत शत(cid:7300) को पूव(cid:7299)(cid:7334) कंपनी (cid:7367)ारा पूरा
(cid:7408)कया गया ह ै और पूरा (cid:7408)कया जाएगा ।
(cid:7021)थान :
तारीख :
भवदीय,
(cid:7079)धान अिधकारी के ह(cid:7021)ता(cid:6979)र ....................
नाम ....................
पदनाम ...................
पता ...................
(cid:7407)ट(cid:7009)पण 1 :
1.(cid:32) इस िवक(cid:7016)प (cid:7079)(cid:7272)प पर (cid:7079)धान अिधकारी (cid:7367)ारा ह(cid:7021)ता(cid:6979)र (cid:7408)कए जाने चािहए ।"
[अिधसूचना सं. 36/2017/फा. सं. 370142/7/2017-टीपीएल]
नीरज कुमार, अवर सिचव (कर नीित और िवधान)
(cid:7407)(cid:7407)(cid:7407)(cid:7407)टटटट(cid:7009)(cid:7009)(cid:7009)(cid:7009)पपपपणणणण –––– मूल िनयम भारत के राजप(cid:7074), असाधारण, भाग 3, खंड 3, उपखंड (i) म(cid:7286) अिधसूचना
सं. का.आ. 969(अ) तारीख 26 माच(cid:6981), 1962 (cid:7367)ारा (cid:7079)कािशत (cid:7408)कए गए थे और उनका अंितम संशोधन अिधसूचना स.ं
सा.का.िन. 399(अ) तारीख 21 अ(cid:7079)ैल, 2017 (cid:7367)ारा (cid:7408)कया गया ।
MINISTRY OF FINANCE
Department of Revenue
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 2nd May, 2017
INCOME-TAX
S.O. 1381(E).—In exercise of the powers conferred by section 295 read with section 115BA 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. (1) These rules may be called the Income-tax (9th Amendment) Rules, 2017.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Income-tax Rules, 1962 (hereafter referred to as the principal rules), after rule 21AC, the following rule
shall be inserted, namely:-
“21AD. Exercise of option under sub-section (4) of section 115BA. (1) The option to be exercised in
accordance with the provisions of sub-section (4) of section 115BA by a person, being a domestic company, for
any previous year relevant to the assessment year beginning on or after the 1st day of April, 2017, shall be in
Form No. 10-IB.
(2) The option in Form No. 10-IB referred to in sub-rule (1) shall be furnished electronically either under digital
signature or electronic verification code.4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
(3) The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as
the case may be, shall-
(i)(cid:32) specify the procedure for filing of Form referred to in sub-rule (2);
(ii)(cid:32) specify the data structure, standards and manner of generation of electronic verification code, referred
to in sub-rule(2), for purpose of verification of the person furnishing the form referred to in the said
sub- rule; and
(iii)(cid:32)be responsible for formulating and implementing appropriate security, archival and retrieval policies in
relation to Form so furnished.”;
3. In the principal rules, after Form No. 10-IA, the following Form shall be inserted, namely:-
“FORM No. 10-IB
[See sub-rule (1) of rule 21AD]
Application for exercise of option under sub-section (4) of section 115BA of the Income - tax Act, 1961
To,
The Assessing Officer,
………………………….
Sir/Madam,
I, ……………………………….., on behalf of [name and registered address of the company exercising the option under
sub-section (4) of section 115BA] …………………….………………………………………………………. having
Permanent Account Number (PAN)……………………………….. do hereby exercise the option referred to in sub-section
(4) of section 115BA of the Income-tax Act, 1961 (the Act) for previous year 20…-…… and subsequent years.
2. The details of the company is given below
(i)(cid:32) Name of the Company exercising the option :
under sub-section (4) of section 115BA:
(ii)(cid:32) Whether it is a Domestic company or not :
(iii)(cid:32)PAN :
(iv)(cid:32) Registered Address :
(v)(cid:32) Date of Incorporation :
(vi)(cid:32) Nature of business or activities of the :
Company
3. I understand that the above option once exercised for any previous year, cannot be subsequently withdrawn for
the same or any other previous year.
4. I do hereby further affirm that the conditions stipulated in section 115BA of the Act are and shall be satisfied by
the aforesaid company.
Place:
Date:
Yours faithfully,
Signature of Principal Officer…………….……………….
Name…………………………………
Designation………………………….
Address…………………….…………
Note 1:
1. This option form should be signed by the principal officer.”
[Notification No. 36/2017/F. No. 370142/7/2017-TPL]
NIRAJ KUMAR, Under Secy. (Tax Policy and Legislation)
Note 2: The principal rules were published in the Gazette of India Extraordinary, Part III, section 3, sub-section (i), vide
notification number S.O. 969(E), dated the, 26th March, 1962 and were last amended vide notification number G.S.R.
399(E) dated the 21st April, 2017.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.