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NOTIFICATION NO. 32/2019, DATED: 1-04-2019

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1 week 4 days ago #9407 by amit
NOTIFICATION NO. 32/2019, DATED: 1-04-2019

April 01, 2019


G.S.R. 279(E).– In exercise of the powers conferred by section 139 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 (Second Amendment) Rules, 2019.

(2) They shall come into force with effect from the 1st day of April, 2019.

2. In the Income-tax rules, 1962 (hereinafter referred to as the principal rules), in rule 12,− (a) in sub-rule (1),-

(I) in the opening portion for the figures “2018”, the figures “2019” shall be substituted;

(II) in clause (a), in the proviso, after item (IC), the following items shall be inserted, namely:__

“(ID) has claimed deduction under section 57, other than deduction claimed under clause (iia) thereof;

(IE) is a director in any company;
(IF) has held any unlisted equity share at any time during the previous year;
(IG) is assessable for the whole or any part of the income on which tax has been deducted at source in the hands of a person other than the assesse;”;
(III) in clause (ca), __

(i) in the opening portion, for the words “a Hindu undivided family or a firm, other than a limited liability partnership firm,”, the words “a Hindu undivided family, who is a resident other than not ordinarily resident, or a firm, other than limited liability partnership firm, which is a resident” shall be substituted;

(ii) in the proviso, for item (I), the following items shall be substituted, namely:__

“(I) has assets (including financial interest in any entity) located outside India;

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