Income-tax (9th Amendment) Rules, 2020. - 25/2020 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 25/2020 New Delhi, the 20th May, 2020 INCOME-TAX G.S.R. 304(E). - In exercise of the powers conferred by section 295 read with sub-section (2) of section 92CB 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 (9 th Amendment) Rules, 2020. (2) They shall come into force and shall be deemed to have come into force from the 1 st day of April, 2020. 2. In the Income-tax Rules, 1962, - (i) in rule 10TD , after sub-rule (3A), the following rule shall be inserted, namely:- (3B) The provisions of sub-rules (1) and (2A) shall apply for the assessment year 2020-21 ; (ii) in rule 10TE, in sub-rule (2), after the third proviso, the following proviso shall be inserted, namely: - Provided also that nothing contained in this sub-rule shall apply to the option for safe harbour validly exercised under sub-rule (3B) of rule 10TD. ; and (iii) in Appendix II, in Form No 3CEFA , in the heading, in the brackets, for the word and figure rule 10 the word, figure and letters rule 10TE shall be substituted. [F. No. 370142/14/2020-TPL] NEHA SAHAY, Under Secy. (Tax Policy and Legislation) Explanatory Memorandum: It is hereby certified that no person is being adversely affected by giving retrospective effect to these rules. Note: The principal rules were published in the Gazette of India, Extraordinary, Part-II, section-3, sub-section (ii) vide number S.O. 969 (E) dated the 26th March, 1962 and were last amended vide notification number GSR No. 282(E), dated the 06th May, 2020.