Date: 2016-07-20Category: Extra OrdinaryState: Union GovernmentCountry: India
In exercise of the powers conferred by section 187 of the Finance Act 2016 28 of 2016 the Central Government hereby amends the notification of the Ministry of Finance
Executive Summary:
This document contains two notifications from the Government of India. The first notification amends a previous notification regarding tax, surcharge, and penalty payment deadlines for undisclosed income under the Finance Act, 2016. The second notification amends the Income Declaration Scheme Rules, 2016, specifically modifying Form 1 related to declarant information. Both notifications are effective from the date of their publication (July 20, 2016).
Key Points / Main Content:
Tax and Penalty Payment Amendment:
* Amends notification S.O. 1830E dated May 19, 2016, concerning tax and penalty payments for undisclosed income.
* Specifies the following payment schedule:
* At least 25% of tax, surcharge, and penalty due by November 30, 2016.
* At least 50% of the remaining tax, surcharge, and penalty due by March 31, 2017 (after deducting the amount paid by November 30, 2016).
* The full remaining amount of tax and penalty due by September 30, 2017 (after deducting amounts paid by November 30, 2016, and March 31, 2017).
Income Declaration Scheme Rules Amendment:
* Amends the Income Declaration Scheme Rules, 2016.
* Modifies Form 1 concerning declarant information.
* Replaces existing entries for serial numbers 1 and 2 in Form 1 with updated requirements for:
* Name and address of the declarant, including office and residence details, email, and telephone/mobile numbers.
* Filing status, specifying whether the declaration is original or revised. For revised declarations, requires the receipt number and filing date of the original form, along with reasons for revision (limited to 100 words).
Impact Analysis:
Tax Payers with Undisclosed Income:
* Impact: Affected by revised deadlines for tax, surcharge, and penalty payments related to undisclosed income.
* Action Required: Adhere to the new payment schedule outlined in the notification to avoid further penalties.
Individuals Declaring Income under the Income Declaration Scheme:
* Impact: Affected by changes to Form 1, requiring updated information.
* Action Required: Use the revised Form 1 when making income declarations, providing all required details accurately, especially when submitting a revised declaration.
Key Entities Referenced
Finance Act, 2016: A law enacted in 2016, specifically sections 187 and 199 are referenced in the document.
Ministry of Finance Department Of Revenue: The government ministry and department responsible for the notification.
Central Government: The governing authority issuing the notification.
S.O. 2476E: Official notification number of the Ministry of Finance.
S.O.1830E: Previous notification number of the Ministry of Finance, amended by this document.
Income Declaration Scheme Rules, 2016: Rules related to the Income Declaration Scheme, being amended by this notification.
Central Board of Direct Taxes: The organization making amendments to the Income Declaration Scheme Rules.
New Delhi, Delhi: Location where the notifications were issued.
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EXTRAORDINARY
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PART II—Section 3—Sub-section (ii)
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No. 1824] NEW DELHI, WEDNESDAY, JULY 20, 2016/ASADHA 29 , 1938
ििििवववव(cid:3)(cid:3)(cid:3)(cid:3)तत तत मममम(cid:8)(cid:8)ंं(cid:8)(cid:8)ंं ााााललललयययय
((((ररररााााजजजज(cid:15)(cid:15)(cid:15)(cid:15) वव वव ििििववववभभभभाााागगगग))))
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:4)द(cid:6) ली, 20 जुलाई, 2016
ककककाााा....आआआआ.... 2222444477776666((((अअअअ))))....————क(cid:10)(cid:11)ीय सरकार, िव(cid:18)त अिधिनयम, 2016 (2016 का 28) क(cid:21) धारा 187 (cid:23)ारा (cid:24)द(cid:18)त शि(cid:26) तय(cid:27)
का (cid:24)योग करत े (cid:31)ए, भारत के राजप$, असाधारण, भाग II, खंड 3, उपखंड (ii) तारीख 19 मई, 2016 म (cid:10) (cid:24)कािशत
अिधसूचना स.ं का.आ. 1830(अ) तारीख 19 मई, 2016, िव(cid:18)त मं$ालय (राज, व िवभाग) क(cid:21) अिधसूचना म(cid:10) संशोधन करती
ह ै।
2. उ(cid:26)त अिधसूचना म,(cid:10) खंड (ii) के ,थ ान पर िन2 निलिखत खंड रखा जाएगा, अथा3त ्:--
“(ii) उस तारीख को या पूव,3 िजस े धारा 184 के अधीन कर और अिधभार संदये ह ै और अ(cid:24)क:टत आय क(cid:21) बाबत
धारा 185 के अधीन शाि,त सदं ये ह,ै िन2 नानसु ार होगी, अथात3 ् :--
(क) ऐसे कर, अिधभार और शाि, त के प> चीस (cid:24)ितशत स ेअ? यून रकम के िलए, 30 नवंबर, 2016 ;
(ख) खंड (क) के अधीन संद(cid:18)त रकम (cid:23)ारा यथा कम (cid:4)कए गए ऐसे कर, अिधभार और शाि, त के पचास
(cid:24)ितशत स ेअ?य ून रकम के िलए 31 माच,3 2017 ;
(ग) खंड (क) और खंड (ख) के अधीन संद(cid:18) त रकम(cid:27) (cid:23)ारा यथा कम (cid:4)कए गए धारा 184 और धारा 185 के
अधीन संदये संपूण 3रकम के िलए, 30 िसतंबर, 2017 ;”।
[अिधसूचना 59/2016/ फा.स.ं 142/8/2016-टीपीएल]
डा. टी.एस. मापवाल, अवर सिचव
(cid:16)(cid:16)(cid:16)(cid:16)टटटट(cid:18)(cid:18)(cid:18)(cid:18)पप प प णणणण : मूल िनयम अिधसूचना सं. का.आ. 1830(अ) तारीख 19 मई, 2016 (cid:23)ारा (cid:24)कािशत (cid:4)कए गए थे ।
3643 GI/2016 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF FINANCE
(Department Of Revenue)
NOTIFICATION
New Delhi, the 20th July, 2016
S.O. 2476(E).— In exercise of the powers conferred by section 187 of the Finance Act, 2016 (28 of 2016), the
Central Government hereby amends the notification of the Ministry of Finance (Department of Revenue), notification
number S.O.1830(E) dated the 19th May, 2016, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-
section (ii) dated the 19th May, 2016.
2. In the said notification, for clause (ii), the following clause shall be substituted, namely:-
“(ii) the date on or before which the tax and surcharge is payable under section 184, and the penalty is payable
under section 185 in respect of undisclosed income shall be as follows, namely:-
(a) the 30th day of November, 2016, for an amount not less than twenty-five per cent. of such tax, surcharge and
penalty;
(b) the 31st day of March, 2017, for an amount not less than fifty per cent. of such tax, surcharge and penalty as
reduced by the amount paid under clause (a);
(c) the 30th day of September, 2017, for the whole amount payable under section 184 and 185 as reduced by the
amounts paid under clause (a) and (b);”.
[Notification No.59/2016/ F.No.142/8/2016-TPL]
Dr. T.S. MAPWAL, Under Secy.
Note:- The principal notification was published vide notification number S.O. 1830(E), dated the 19th May, 2016.
((((कककक(cid:2)(cid:2)(cid:2)(cid:2)(cid:3)(cid:3)(cid:3)(cid:3)ीीीीयययय (cid:7)(cid:7)(cid:7)(cid:7)(cid:8)(cid:8)(cid:8)(cid:8)यय यय (cid:9)(cid:9)(cid:9)(cid:9) ककककरररर बबबबोोोोडडडड))(cid:14)(cid:14)))(cid:14)(cid:14)
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:4)द(cid:6)ल ी, 20 जुलाई, 2016
ककककाााा....आआआआ.... 2222444477777777((((अअअअ))))....———— क(cid:10)(cid:11)ीय (cid:13)(cid:14) य(cid:15) कर बोड,(cid:20) िव(cid:14)त अिधिनयम, 2016 (2016 का 28) क(cid:25) धारा 199 क(cid:25)
उपधारा (1) और उपधारा (2) (cid:28)ारा (cid:13)द(cid:14)त शि(cid:30)त य(cid:31) का (cid:13)योग करत े "ए, आय घोषणा (क (cid:25)म, 2016 (िजसे इसम(cid:10)
इसके प/च ात् मूल िनयम कहा गया ह)ै और संशोधन के िलए िन6न िलिखत िनयम बनाता ह,ै अथा(cid:20)त् :--
1. (1) इन िनयम(cid:31) का संि(cid:15); त नाम आय घोषणा (क (cid:25)म (संशोधन) िनयम, 2016 ह ै।
(2) ये राजप< म(cid:10) (cid:13)काशन क(cid:25) तारीख को (cid:13)वृ(cid:14)त ह(cid:31)गे ।
2. मूल िनयम(cid:31) म,(cid:10) (cid:13)@प-1 म,(cid:10) Bम संCय ाकं 1 और 2 और उससे सबं ंिधत Bम संCय ांक और (cid:13)िविEट यां रखी जाएगी,
अथा(cid:20)त् :--
‘‘1. घोषणाकता(cid:20) का नाम और पता
(क) नाम ..............................................
(ख) पता : काया(cid:20)लय ..............................................................
...........................................................................¹Hkkx IIµ[k.M 3(ii)º Hkkjr dk jkti=k % vlk/kj.k 3
ई-मेल .......................... टेलीफोन न.ं ...................
िनवास ................................................................
...........................................................................
मोबाइल नं..................... टेलीफोन न.ं ...................
2. फाइल करने क(cid:25) (cid:13)ाि(थ ित
(क) (cid:30) या घोषणा मूल ह ै या पुनरीि(cid:15)त
(ख) य(cid:4)द पुनरीि(cid:15)त ह ै–
/ /
(i) (cid:13)िविE ट (cid:13)ाि; त सं. और मलू (cid:13)@प-1 ((cid:4)दन/माह/वष(cid:20))
फाइल करने क(cid:25) तारीख
(ii) पुनरीि(cid:15)त घोषणा के िलए कारण ..........................
(100 शK द(cid:31) से अिधक नहL) ’’
[अिधसूचना 60/2016/ फा.सं. 142/8/2016-टीपीएल]
डा. टी.एस. मापवाल, अवर सिचव
(cid:15)(cid:15)(cid:15)(cid:15)टटटट(cid:17)(cid:17)(cid:17)(cid:17)पप पप णणणण : मूल िनयम अिधसचू ना सं. का.आ. 1831(अ) तारीख 19 मई, 2016 (cid:28)ारा (cid:13)कािशत (cid:4)कए गए थे ।
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 20th July, 2016
S.O. 2477(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, (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 Form-1, for serial numbers 1 and 2 and entries relating thereto the following serial numbers and entries shall be
substituted, namely:-
“1. Name and address of the declarant
(a) Name ……………………………
(b) Address: Office……………………………………………………………….………
……………………………………………………………………………..
E-mail…………………………….Telephone No………………………
Residence…………………………………………………………………
…………………………………………………………………………….
Mobile No. …………………….Telephone No………………………..4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
2. Filing status
(a) Whether the declaration is original or revised
(b) If revised-
(i) Enter receipt No. and Date of filing original Form-1 / /
(DD/MM/YYYY)
(ii) Reasons for revised declaration ……………………………
(not exceeding 100 words)”.
[Notification No.60/2016/ 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.
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.