Income-tax (Sixth Amendment) Rules, 2024 - Form No. 27Q amended. New item 7A inserted for reporting the lower deduction or no deduction in view of notification u/s 197A(1F) - 48/2024 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 48/2024 New Delhi, the 4th June, 2024 (INCOME-TAX) G.S.R. 309(E). In exercise of the powers conferred by section 295 read with sub-section (3) of section 200 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 (Sixth Amendment) Rules, 2024. (2) They shall come into force on the 1st day of July, 2024. 2. In the Income-tax Rules, 1962 , in Form No. 27Q , in the Annexure, under the heading Verification , in the Notes, after Note No. 7, the following Note shall be inserted, namely: 7A. Write P if lower deduction or no deduction is in view of notification issued under sub-section (1F) of section 197A. . [F. No 370142/11/2024-TPL] KHUSHBOO LATHER, Under Secy. Note: The Income-tax Rules, 1962 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 G.S.R. 233 (E), dated the 27th March , 2024.