Income-tax (1st Amendment) Rules, 2020 - 01/2020 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 01/2020 New Delhi, the 3rd January, 2020 INCOME-TAX G.S.R. 9 (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 (1st Amendment) Rules, 2020. (2) They shall come into force with effect from the 1st day of April, 2020. 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 2019 , the figures 2020 shall be substituted; (II) in clause (a), in the proviso,- (i) in item (V), the word or occurring at the end shall be omitted; (ii) after item (VI), the following items shall be inserted, namely:- (VII) owns a house property in joint-ownership with two or more persons; or (VIII) is required to furnish a return of income under seventh proviso to sub-section (1) of section 139 . ; (III) in clause (ca), - (ii) in the proviso, after item (V), the following item shall be inserted, namely:- (VI) owns a house property in joint-ownership with two or more persons. ; (b) in sub-rule (5), for the figures 2018 , the figures 2019 shall be substituted. 3. In the principal rules , in Appendix II , for Form Sahaj (ITR-1) and Sugam (ITR-4) , the following Forms shall, respectively, be substituted, namely:- [F. No. 370142/32/2019-TPL] ANKUR GOYAL, Under Secy. Note : The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii) vide notification number S.O.969(E), dated the 26th March, 1962 and last amended by the Income-tax (16th Amendment) Rules, 2019, vide notification number GSR. 960(E), dated 30th December, 2019.