Income-tax (35th Amendment) Rules, 2016 - 120/2016 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION NO. 120/2016 New Delhi, the 21st December, 2016 S.O.4110(E). - In exercise of the powers conferred by section 285BA read with section 295 of the Income-tax Act, 1961 (43 of 1961) , the Central Government hereby makes the following rules further to amend the Income-tax Rules, 1962 , namely:- 1. (1) These rules may be called the Income-tax ( 35th Amendment) Rules, 2016. (2) They shall be deemed to have come into force from the 7th August, 2015. 2. In the Income-tax Rules, 1962 , in rule 114F, in clause (1), in the Explanation,- (I) in clause (g), in sub-clause (D), for the words, brackets and letters in sub-clause (ii) , the words, brackets and letter in sub-clause (B) shall be substituted; (II) in clause (h),- (1) in sub-clause (i), in item (E), in the Explanation, for the words, brackets, letters and figure item (A) or (B) or from one or more retirement or pension funds that meets with the requirements of clauses (e), (f) or (g) of Explanation to clause (1) , the words, brackets, letters and figure subclauses (i) or (ii) or from one or more retirement or pension funds that meets with the requirements of clauses (E), (F) or (G) of Explanation to clause (5) shall be substituted; (2) in sub-clause (ii), in item (D), in the Explanation, for the words, brackets, letters and figure item (A) or (B) or from one or more retirement or pension funds that meets the requirements of clauses (e), (f) or (g) of Explanation to clause (1) , the words, brackets, letters and figure sub-clauses (i) or (ii) or from one or more retirement or pension funds that meets with the requirements of clauses (E), (F) or (G) of Explanation to clause (5) shall be substituted. [F.No.370142/06/2016-TPL] Dr. T.S. MAPWAL, Under Secy. Note: It is certified that by giving retrospective effect to the present notification, no one will be adversely effected in this regard.