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Income-tax (1st Amendment) Rules, 2016
January, 18th 2016
  [TO BE PUBLSIHED IN THE GAZETTE OF INDIA EXTRAORDINARY, PART II,
                     SECTION 3, SUB-SECTION (ii)]

                            GOVERNMENT OF INDIA
                            MINISTRY OF FINANCE
                          DEPARTMENT OF REVENUE
                      [CENTRAL BOARD OF DIRECT TAXES]

                                   (INCOME ­ TAX)

                                      Notification

                                                     New Delhi, the 14th January, 2016

       S.O. 127 (E).- In exercise of the powers conferred by section 11 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.     (1)   These rules may be called the Income-tax (1st Amendment) Rules, 2016.

       (2)    They shall come into force from the 1st day of April, 2016.

2.     In the Income-tax Rules, 1962 (hereinafter referred to as the said rules), for rule
17, the following rule shall be substituted, namely:-
           "17. Exercise of option etc under section 11. (1) The option to be
           exercised in accordance with the provisions of the Explanation to sub-
           section (1) of section 11 in respect of income of any previous year relevant
           to the assessment year beginning on or after the 1st day of April, 2016 shall
           be in Form No. 9A and shall be furnished before the expiry of the time
           allowed under sub-section (1) of section 139 for furnishing the return of
           income of the relevant assessment year.
           (2) The statement to be furnished to the Assessing Officer or the prescribed
           authority under sub-section (2) of section 11 or under the said provision as
           applicable under clause (21) of section 10 shall be in Form No. 10 and shall
           be furnished before the expiry of the time allowed under sub-section (1) of
           section 139, for furnishing the return of income.
           (3) The option in Form No. 9A referred to in sub-rule (1) and the statement
           in Form No.10 referred to in sub-rule (2) shall be furnished electronically
           either under digital signature or electronic verification code.
           (4) The Principal Director General of Income-tax (Systems) or the Director
           General of Income-tax (Systems), as the case may be, shall-
               (i) specify the procedure for filing of Forms referred to in sub-rule (3);
               (ii) specify the data structure, standards and manner of generation of
               electronic verification code, referred to in sub-rule(3), for purpose of
               verification of the person furnishing the said Forms; and
               (ii) be responsible for formulating and implementing appropriate security,
               archival and retrieval policies in relation to Forms so furnished.".
3.      In the said rules, in Appendix II,-
               (a) after Form No.9, the following Form shall be inserted, namely:-

                                     "FORM NO.9A
                                     [See rule 17(1)]
Application for exercise of option under clause (2) of the Explanation to sub-section (1)
of section 11 of the Income - tax Act, 1961.

To
        The Assessing Officer,






I, ,............... on behalf of [name of the trust/institution/association].........................
Permanent Account Number (PAN)...................................... do hereby wish to exercise
the option referred to in clause (2) of the Explanation to sub-section (1) of section 11 of the
Income-tax Act, 1961 for an amount of Rs.......................( detailed in A below) to be
deemed to be the income applied for charitable or religious purposes during the previous
year 20..- 20.. for the reasons mentioned in B below.


A. The details of income in this regard are:
       (i) Amount of income derived from property held under trust / held under trust in part,
       during the above mentioned previous year: Rs...................;

        (ii) Amount of income [out of (i)] actually applied to charitable or religious purposes in
        India: Rs .........................;

        (iii) Amount of income referred to in (ii) that falls short of 85% of the income referred
        to in (i) : Rs.................;

        (iv) The amount of income in respect of which the option is being exercised:
        Rs..................

B. The reasons for the shortfall in application of income are as under:-

        (a)Whether the income was not received during the previous year? Yes/No.

                If Yes, the amount of income that was not received:...............;

        (b) any other reason ?                                              Yes/No
        If yes, then specify the reason and the corresponding amount of income:

                     Sr.No      Reason for shortfall            Amount of Income




Date:
                                                                Signature..................................
                                                                Designation...............................
                                                                Address....................................
Note:
1. This option Form should be signed by a trustee/principal officer.
2. Delete the inappropriate words.";

(b) for Form No.10, the following Form shall be substituted, namely:-

                                             "FORM NO.10
                                            [See rule 17(2)]
Statement to be furnished to the Assessing Officer/Prescribed Authority under
          sub-section (2) of section 11 of the Incomer-tax Act, 1961

To
The Assessing Officer/ Prescribed Authority,
.........................................................
.........................................................



I,    ,............... on    behalf    of.................................  [name   of  the
trust/institution/association] Permanent Account Number .................. hereby bring
to your notice that it has been decided by a resolution passed by the
trustees/governing body, by whatever name called, on...................... that, out of the
income of the trust/institution/association for the previous year, relevant to the
assessment year 20....-20...., an amount of Rs........ which is ...........per cent of the
income of the trust/institution/association for the said previous year, shall be
accumulated or set apart              for carrying out the                 purposes of the
trust/association/institution. The details of the amount, the purpose and period of the
proposed accumulation or setting apart is as under:-

 Sr.No. Purpose for which amount is                    Amount      Period of
        being accumulated or set apart                             accumulation/setting apart
                                                                   ending on
 1
 2
 3
2. The amount so accumulated or set apart has been invested or deposited in any one
or more of the forms or modes specified in sub-section(5) of section 11 of the Income-
tax Act, 1961.




3. It is further brought to your notice that the said ...................... [name of the
trust/institution/association] had in respect of an assessment year preceding the
relevant assessment year given the statement regarding accumulation or setting
apart of an amount as required under sub-section (2) of section 11 of the Income-tax
Act, 1961 as detailed below:
                                                     Amount                      Amount deemed to be
Year of     Date       Amount      Period for                       Amount
                                                   applied up to                      income within
accumul    of filing   accumul       which                         remaining
                                                    the end of                           meaning
 ation      Form         ated     accumulated/                         for
                                                   the previous                   of sub-section (3) of
              10                    set apart                      application
                                                       year                             section 11




4. It is also brought to your notice that , out of incomes detailed in 3 above, due to the
order/ injunction of the court the income as detailed below could not be applied for the
purpose for which it was accumulated or set apart:-

 S.No.      Amount of            Previous year in which      Period during which it     Details of
            income               accumulated or set apart    could not be applied due   court order
                                                             to court order




Date: ...................
                                                                   Signature...........................
                                                                   Designation.........................
                                                                    Address............................
Notes:
1. This statement should be signed by a trustee/principal officer.
2. Delete the inappropriate words.".

                                      Notification No.3/2016 /2015 [F. No. 142/16/2015-TPL]


                                                               (R LAKSHMI NARAYANAN)
                                              Under Secretary (Tax Policy and Legislation)

Note: - The principal rules were published in the Gazette of India Extraordinary, Part
II, Section 3, Sub-section (i), vide notification number S.O. 969(E), dated the, 26 th
March, 1962 and last amended vide notification number S.O- 3545 (E), dated the 30th
December, 2015.

 
 
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