Income-tax (Ninth Amendment) Rules, 2002 - 150/2002 - Income Tax

Income-tax (Ninth Amendment) Rules, 2002 NOTIFICATION No. 150 Dated 19th June, 2002 In exercise of the powers conferred by 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 (Ninth Amendment) Rules, 2002. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962. for rule 114D. the following shall be substituted, namely:- "114D. Time and manner in which persons referred to in sub-rule (2) of rule 114C shall intimate the details of transaction to the Director of income-tax (Investigation):- (1) Every person referred to in sub-rule (2) of rule 114C shall forward to the concerned Director of Income-tax (Investigation) or Commissioner of Income-tax (Central Information Branch), the following documents, namely: (a) a statement indicating therein details of all documents pertaining to any transaction referred to in clauses (a) to (k) of rule 114B where payment is made in cash; (b) the statement referred to in clause (a) shall contain:- (i) name and address of the person entering into the transactions; (ii) nature and date of the transaction; (iii) amount of each transaction; (iv) permanent account number or General Index Register Number quoted in the documents pertaining to any transaction.; (c) copies of declaration in Form No. 60 referred to in third proviso to rule 114B; (d) copies of declaration in Form No. 61 referred to in clause (a) of sub-rule (1) of rule 114C; Provided that copies of declaration furnished in respect of transactions referred to in clause (f) of rule 114B shall not be furnished to the Director of Income-tax (investigation) or Commissioner of Income-tax (Central Information Branch) (2) The statement and copies declaration in Form Nos. 60 and 61 referred to in sub-rule (1) shall be forwarded to the concerned Director of Income-tax (Investigation) or Commissioner of Income-tax (Central Information Branch) in two instalments, that is, the forms received up to 30th September, shall be forwarded latest by 31st October of that year and the declaration till the 31st March shall be furnished latest by 30th April of the same year." Sd/- Rahul Navin Under Secy. F.No. FB/59/2002-TPL Note: The principal rules were published vide notification S.O. No. 969(E) dated, 26-3-1962 and were last amended by Income-tax (8th Amendment) Rules. 2002 vide notification No. 149/2002 dated 19-6-2002.