Description:
| This book provides the amended, updated, and annotated text
of the Income-tax Rules, 1962, along with 25+ allied rules, schemes, and return
forms for the Assessment Year 2024-25.
The recent changes in the Income-tax Rules, 1962 are as
follows:
- [Insertion/Changes
in Rules] are as follows:
- Insertion
of 9+ New Rules
- Changes
in 30+ Existing Rules
- [Insertion/Changes
in Forms] are as follows:
- Insertion
of 6+ New Forms
- Changes
in 35+ Existing Forms
- [New
Rules & Forms] are as follows:
- New
Rule for Net Winnings from Online Games – Specifies how to
compute 'Net Winnings' under Sections 115BBJ & 194BA
- Form
No. 56F – To be submitted by assessees claiming deductions
under Section 10AA
- Form
15CD – Introduced for IFSC to provide a quarterly statement
of all remittances to non-residents or foreign companies
- Form
71 – Allows TDS credit for income disclosed in previously
filed ITRs
- Rules
13 & 13A – Implement Finance Act 2023 amendments related
to search and seizure
- Rule
11UACA – Computes taxable income from sums received under
life insurance policies
- Form
3AF – For assessees claiming deductions under Section 35D
- Rule
21AGA and Form 10-IEA – For opting into the Old Tax Regime
The Present Publication is the 61st Edition
| 2024, and all available amendments notified up to Income Tax (Sixth
Amendment) Rules, 2024, have been incorporated. This book is edited/authored by
Taxmann's Editorial Board, with the following noteworthy features:
- [Comprehensive
Guide to Amendments] Detailed coverage of amendments made in the
Income-tax Rules in 2023-2024
- [Coverage]
of this book includes:
- All
Rules, Schemes, etc., which are either notified under the
Income-tax Act, 1961 or referred to in different provisions of the
Income-tax Act, are covered, i.e.,
- Income-tax
Rules
- ICDS
- Faceless
Assessment, Appeal & Penalty Scheme with Directions
- STT,
CTT & EL, etc.
- Income-tax
Return Forms for Assessment Year 2024-25
- Landmark
Judgements & CBDT Circulars
- [Action
Points for Forms] Explanation of relevant provisions and the filing
process for each form
- [Quick
Identification for Redundant & e-Forms]
- [Bestseller
Series] Taxmann's series of Bestseller Books for more than Five
Decades
- [Zero
Error] Follows the Six Sigma Approach to achieve
the benchmark of 'Zero Error'
The detailed contents of the book are as follows:
- Income-tax
Rules, 1962 amended up to date with the list & text of
provisions of Allied Law referred to in Income-tax Rules
- Income
Computation and Disclosure Standards
- e-Appeals
Scheme along with Order under sub-section (6) of section246 of
the Income-tax Act, 1961 for specifying the scope of e-Appeals Scheme
under the Act
- Faceless
Assessment Scheme, 2019 with Directions
- Faceless
Appeal Scheme, 2021
- Faceless
Penalty Scheme, 2021 with Directions
- Commodities
Transaction Tax Rules, 2013
- Securities
Transaction Tax Rules, 2004
- Equalisation
Levy Rules, 2016
- Prohibition
of Benami Property Transaction Rules, 2016
- Centralised
Verification Scheme, 2019
- Centralised
Processing of Returns Scheme, 2011, with the text of the
Application of provisions of the Act relating to the processing of
Returns, Time-limit for verification of return of income after uploading
and Reduction of time-limit for verification of Income-tax Return (ITR)
form within 120 days to 30 days of transmitting the data of ITR
electronically
- e-Settlement
Scheme, 2021
- e-Verification
Scheme, 2021 with FAQs on e-Verification Scheme, 2021 and
Promoting voluntary compliance through e-Verification Scheme, 2021
- e-Advance
Rulings Scheme, 2022
- Faceless
Jurisdiction of Income-tax Authorities Scheme, 2022
- e-Assessment
of Income Escaping Assessment Scheme
- Faceless
Inquiry or Valuation Scheme, 2022
- e-Dispute
Resolution Scheme, 2022
- Centralised
Processing of Equalisation Levy Statement Scheme, 2023
- Return
Forms
- ITR-1
| SAHAJ – Individual Income Tax Return
- ITR-2
| Return of Income – For Individuals and HUFs not having income from
profits and gains of business or profession
- ITR-2A
| [Omitted by the IT (Fourth Amdt.) Rules, 2017, w.e.f. 1-4-2017]
- ITR-3
| Return of Income – For Individuals and HUFs having income from profits
and gains of business or profession
- ITR-4
| SUGAM – Form Individuals, HUFs and Firms (other than LLP) being a
resident having total income up to Rs. 50 lakh and having income from
business and profession, which is computed under section 44AD, 44ADA or
44AE [Not for an individual who is either a Director in a company or has
invested in unlisted equity shares or if income-tax is deferred on ESOP
or has agricultural income more than Rs. 5000]
- ITR-4
| [Omitted by the IT (Fourth Amdt.) Rules, 2017, w.e.f. 1-4-2017]
- ITR-5
| Return of Income - For persons other than — (i) individual, (ii) HUF, (iii)
company and (iv) person filing Form ITR-7
- ITR-6
| Return of Income – For Companies other than companies claiming
exemption under section 11
- ITR-7
| Return of Income – For persons including companies required to furnish
returns under sections 139(4A) or, 139(4B) or, 139(4C), or 139(4D) only
- ITR-8
| [Omitted by the IT (Twenty-First Amdt.) Rules, 2021, w.e.f. 29-7-2021]
- ITR-V
| Verification Form & Acknowledgment
- ITR-A
| Return Form – For successor entities to furnish a return of income
under section 170A consequent to business reorganisation
- ITR-U
| Return Form – For persons to update income within twenty-four months
from the end of the relevant assessment year
- Other
Rules and Schemes
- Income-tax
(Certificate Proceedings) Rules, 1962
- Bank
Term Deposit Scheme, 2006
- Senior
Citizens' Savings Scheme, 2019
- National
Savings Certificates (VIII Issue) Scheme, 2019
- Income-tax
(Appellate Tribunal) Rules, 1963
|
