These are the latest notifications issued by CBDT on Income Tax which have been published recently. The notifications are open for discussion and we invite expert comments from our members on its applicability and effect on relevant issues.
G.S.R 1054(E).—In exercise of the powers conferred by section 253 read with 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 (10th Amendment) Rules, 2018.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Income-tax Rules, 1962, __
“(i) in rule 47, in sub-rule (1) and sub-rule (2), for the words, brackets and figure “sub-rule (2)”, the words, brackets and figure “sub-rule (3)” shall respectively be substituted;
(ii) in Appendix II, __
(a) for Form 36 and notes thereto, the following shall be substituted, namely:-