Executive Summary:
This document is a notification from the Central Board of Direct Taxes amending the Incometax Rules, 1962. The amendment is made under the powers conferred by subsection 1 of section 295 of the Incometax Act, 1961. These rules, called the Incometax 23rd Amendment Rules, 2020, come into force on April 1, 2021, and are effective from Assessment Year 2021-22.
Key Points / Main Content:
Amendments to Incometax Rules, 1962:
* Rule 67 of the Incometax Rules, 1962 is amended.
* In sub-rule 2 of rule 67:
* In the fifth proviso, "AA" is substituted with "A".
* In the eighth proviso, "AA" is substituted with "A".
* In the eleventh proviso, "AA" is substituted with "A" in both places where it occurs.
Impact Analysis:
Tax Payers and Entities governed by the Income-tax Act, 1961:
Impact: Taxpayers and entities calculating their income tax as per the Incometax Rules, 1962, specifically those affected by rule 67, will be subject to the changes in the provisos.
Action Required: Taxpayers and related entities need to take note of the change in rule 67 and ensure compliance with the amended rule when filing income tax and making necessary calculations.
Key Entities Referenced
New Delhi: Location where the notification was issued.
Ministry of Finance: The government ministry under which the Department of Revenue and Central Board of Direct Taxes operate.
Department of Revenue: The department within the Ministry of Finance responsible for revenue collection.
Central Board of Direct Taxes: A government agency responsible for direct tax administration.
Incometax Act, 1961: The primary law governing income tax in India.
Incometax Rules, 1962: Rules framed under the Incometax Act, 1961 for its implementation.
Incometax 23rd Amendment Rules, 2020: The specific amendment to the Incometax Rules, 1962 being notified.
Gudrun Nehar: Director TPLII, signatory of the notification.
रिज(cid:7021)(cid:7069)ी स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-22102020-222660
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CG-DL-E-22102020-222660
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असाधारण
EXTRAORDINARY
भाग II—ख(cid:7003) ड 3—उप-ख(cid:7003)ड (i)
PART II—Section 3—Sub-section (i)
(cid:7079)ािधकार स े(cid:7079)कािशत
PUBLISHED BY AUTHORITY
स.ं 542] नई (cid:7408)द(cid:7016)ली, बृह(cid:7021)प ितवार, अ(cid:6989)त बू र 22, 2020/आि(cid:7019)व न 30, 1942
No. 542] NEW DELHI, THURSDAY, OCTOBER 22, 2020/ASVINA 30, 1942
िव(cid:7275) म(cid:7074)ं ालय
(राज(cid:7021)व िवभाग)
(के(cid:7008)(cid:7076) ीय (cid:7079)(cid:7004)य (cid:6979) कर बोड)(cid:6981)
अिधसचू ना
नई (cid:7408)द(cid:7016) ली, 22 अ(cid:6989) तूबर, 2020
सा.का.िन. 664(अ).—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 295 क(cid:7409)
उपधारा (1) (cid:7367)ारा (cid:7079)द(cid:7275) शि(cid:6989) तय(cid:7298) का (cid:7079)योग करत े (cid:7263)ए, आय-कर िनयम, 1962 का और संशोधन करन े के िलए
िन(cid:7013) निलिखत िनयम बनाता ह,ै अथा(cid:6981)त ्:--
1. संि(cid:6979)(cid:7009)त नाम और (cid:7079)ारंभ --इस िनयम(cid:7298) का संि(cid:6979)(cid:7009) त नाम आय-कर ( तेईसवां संशोधन) िनयम, 2020 ह ै ।
(2) य ेतारीख 1 अ(cid:7079)लै , 2021 से (cid:7079)व(cid:7275)ृ ह(cid:7298)गे ।
2. आय-कर िनयम, 1962 के िनयम 67 के उपिनयम (2) म—(cid:7286)
(i) पांचव(cid:7286) परंतुक म,(cid:7286) ‘‘एए’’ अ(cid:6979)र के (cid:7021) थान पर, ‘‘ए’’ अ(cid:6979)र रखा जाएगा;
(ii) आठव(cid:7286) परंतुक म,(cid:7286) ‘‘एए’’ अ(cid:6979)र के (cid:7021) थान पर, ‘‘ए’’ अ(cid:6979)र रखा जाएगा; और
(iii) (cid:6991) यारहव(cid:7286) परंतुक म,(cid:7286) ‘‘एए’’ अ(cid:6979)र के (cid:7021)थ ान पर, दोन(cid:7298) (cid:7021)थ ान(cid:7298) पर, जहां वे आत े ह,(cid:7289) ‘‘ए’’ अ(cid:6979)र रखा जाएगा ।
[अिधसूचना सं. 84/2020/फा.सं. 370149/76/2019-टीपीएल]
गुद(cid:7271)न नेहर, िनदेशक (टीपीएल-II)
5141 GI/2020 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(cid:7407)ट(cid:7009)प ण— मूल िनयम, भारत के राजप(cid:7074), असाधारण, भाग II, ख(cid:7003) ड 3, उपख(cid:7003) ड (ii) म,(cid:7286) का.सं. 969(अ), तारीख 26 माच(cid:6981),
1962 (cid:7367)ारा (cid:7079)कािशत (cid:7408)कए गए थ े और अिधसूचना स.ं सा.का.िन. स.ं 610(अ), तारीख 1 अ(cid:6989)टूबर, 2020 (cid:7367)ारा
अंितम संशोधन (cid:7408)कया गया ।
(cid:7021)प (cid:7020)ट ीकारक (cid:6980)ापन
अिधसचू ना स.ं 84/2020, तारीख 22 अ(cid:6989)त बू र, 2020
आय-कर िनयम, 1962 के िनयम 67 का अिधसूचना सं0 84 /2020, तारीख 22 अ(cid:6989) तूबर, 2020 (cid:7367)ारा संशोधन (cid:7408)कया
गया । उ(cid:6989) त संशोधन िनधा(cid:6981)रण वष(cid:6981) 2021-22 और प(cid:7019) चातवत(cid:7278) वष(cid:7300) के िलए (cid:7079)भावी होगा ।
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:-
1. Short title and Commencement.- (1) These rules may be called the Income-tax (23rd
Amendment) Rules, 2020.
(2) They shall come into force from the 1st day of April, 2021.
2. In the Income-tax Rules, 1962, in rule 67, in sub-rule (2), ‒
(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.
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and Published by the Controller of Publications, Delhi-110054.