S.O.
1014 (E).─ In exercise of the powers conferred by 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. (1) These rules may be called
the Income-tax (Seventh Amendment) Rules, 2015.
(2) They shall be deemed to have come
into force with effect
from the 1st day of April, 2015.
2.
In the Income-tax Rules,
1962,─
(1) in rule 12,─
(a) in sub-rule
(1),-
(A) after
the
words, brackets, figure and
letter “sub-section
(4D)” the words,
brackets, figure and
letter “or sub-section
(4E)” shall be inserted;
(B) for the
figures “2014”,
the
figures “2015” shall be
substituted;
(C) in clause (a), in the proviso, in clause (I), for sub-clause (ii), the following sub-
clauses shall be substituted, namely:-
“(ii) signing authority in any account located outside India; or
(iii) income from
any source outside India;”;
(D) in clause (ca), in the proviso,
in clause (I), for sub-clause
(ii) the following sub-
clauses shall be substituted,
namely:-
“(ii) signing authority in any account located outside India; or
(iii) income from
any source outside India;”;
(E) in clause (g), after the words, brackets, figure and letter “sub-section (4D)” the
words, brackets, figure and letter “or sub-section (4E)” shall
be inserted;
(b) for sub-rule(3), the
following sub-rule shall be substituted,
namely:-
‘(3)
The return of income referred to in sub-rule (1) shall be furnished by
a person mentioned in column (ii) of
the Table below to whom the conditions specified in
column (iii) apply, in the manner specified
in column (iv) thereof:-
Table
Sl.
|
Person
|
Condition
|
Manner of
furnishing return
of income
|
(i)
|
(ii)
|
(iii)
|
(iv)
|
1
|
Individual
or Hindu
undivided family
|
(a) Accounts are required to be audited
under section
44AB of the Act;
|
Electronically under
digital
signature
|
(b) Where (a) is not applicable and,-
(I) the return
is
furnished in Form
No. ITR-3 or
Form No. ITR-4;
or (II) the person, being a resident, other
than not ordinarily resident within the meaning of sub- section (6) of section 6, has, (A)
assets (including financial interest
in
any
entity)
located outside India;
or
(B) signing
authority in any account
located outside
India; or
(C)
income
from
any
source outside India;
(III) any relief, in respect of tax paid
outside India, under section 90 or
90A or deduction of tax under
section 91 is claimed;
or
(IV) any report of audit
referred to in
|
(A)
Electronically under
digital signature;
or
(B) Transmitting the data in
the return electronically under
electronic verification
code; or
(C) Transmitting the data in the return
electronically and thereafter submitting
the verification of
the return in Form ITR-V.
|
proviso
to sub-rule (2) is required
to be furnished electronically; or
(V) total income assessable under the Act during the previous
year of the person
(other than the person, being an individual
of the age of
80 years or more at any time
during the previous year and furnishing the return
in
Form
ITR-1 or ITR-2),-
(i) exceeds five lakh rupees;
or
(ii) any refund is claimed in the
return of income;
|
|||
(c)
In any other
case.
|
(A)
Electronically under
digital signature;
or
(B) Transmitting the data in
the return electronically under
electronic verification
code; or
(C) Transmitting the data in the return
electronically and thereafter submitting
the verification of
the return in Form ITR-V; or
(D) Paper
form;
|
||
2
|
Company
|
In all cases.
|
Electronically under
digital
signature.
|
3
|
A person
required to furnish the return in Form ITR-7
|
(a) In case of
a political party;
|
Electronically under
digital
signature;
|
(b) In any other
case
|
(A) Electronically under
digital
signature; or
(B) Transmitting the data in the return
electronically
|
under electronic
verification
code; or
(C) Transmitting the data in the return
electronically and thereafter submitting
the verification of
the return in Form ITR-V.
|
|||
4
|
Firm or
limited liability partnership or any person
(other than a person mentioned
in Sl. 1 to 3 above) who is required to
file return in Form ITR-5
|
(a) Accounts are required to be audited
under section 44AB of the Act;
|
Electronically under
digital
signature;
|
(b) In any other
case.
|
(A)
Electronically under
digital signature;
or
(B) Transmitting the data in
the return electronically under
electronic verification
code; or
(C) Transmitting the data in the return
electronically and thereafter submitting
the verification of
the return in Form ITR-V.
|
Explanation.- For
the purposes of this sub-rule “electronic verification code” means a code generated for the purpose of electronic
verification of the person furnishing
the return of
income as per the data structure and standards specified by
Principal Director General of Income-tax (Systems) or Director General
of Income-tax (Systems).’
(d)
in sub-rule
(4), for the
words and brackets, “Director-General of Income-tax (Systems)”,
the words and brackets “Principal
Director-General of Income-tax (Systems) or Director-
General
of Income-tax (Systems)” shall be
substituted;
(e) in sub-rule (5),
for the figures “2013”, the figures
“2014” shall be substituted.
(2)
in
Appendix-II,
for
"Forms
SAHAJ (ITR-1),
ITR-2,
SUGAM (ITR-4S)
and
ITR-V"
the "Forms SAHAJ (ITR-1), ITR-2,
SUGAM (ITR-4S) and ITR-V" shall respectively, be substituted, namely:-
[Notification No.
41/2015/ F.No.142/1/2015-TPL]
(Gaurav Kanaujia)
Director
to the Government
of India
To Download official Notification Click Here
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