Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: empanelment :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: VAT Audit :: VAT RATES :: articles on VAT and GST in India :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: ACCOUNTING STANDARD :: form 3cd
 
 
« Direct Tax »
 CBDT to waive interest if tax paid in retrospective cases
 New move to settle retrospective tax cases, CBDT offers interest liability waiver to firms
 I-T department guidelines for interest waiver in specific cases offer tax relief
 ICDS provisions to prevail over judicial precedents: CBDT
 CBDT forms committee to check absconding I-T dept officers
 Central Board of Direct Taxes asks taxman to make all out efforts to recover arrears
 CBDT to honour honest taxpayers
 Startups in the docks over marked down valuation tax as March 31 nears
 CBDT asks taxman to make all out efforts to recover arrears
 CBDT chief prods taxmen to buck up, meet recovery target
 CBDT to hold review meeting on PMGKY, tax collection on Mar 17

Incometax (7thAmendment) Rule, 2016
March, 22nd 2016
[TO BE PUBLISHED 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]

                                         Notification

                                                              New Delhi, the 18thMarch, 2016

S.O.1155 (E)- In exercise of the powers conferred by section 285BA, 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.This rule may be called the Income­tax (7thAmendment) Rule, 2016 and shall be deemed
to have come into force from the 1st day of April, 2015.

2.In the Income-tax Rules, 1962 (hereinafter referred to as the Rules), in rule 114E,--

  (i) in the marginal heading, after the words "Information Return", the words "or Statement
      of Financial Transactions" shall be inserted;

  (ii) in sub-rule (1), for the words "annual information return", the words "annual
      information return or statement of financial transactions, as the case may be," shall be
      substituted;




  (iii) in sub-rule (4),--
      (I) in clause (a),--
          (A) for the word "return", wherever it occurs, the words "return or statement" shall
               be substituted;
          (B) in both the provisos, for the words and figure "Annual Information Return-
               Administrator", wherever they occur, the words and figure "Annual Information
               Return or Statement of Financial Transaction- Administrator" shall be
               substituted;

     (II) in clause (b),--
         (A) in the long line, for the word "return" , the words "return or the statement" shall
              be substituted;
         (B) in clause (ii), for the word "return", the words "return or the statement" shall be
              substituted;

  (iv) in sub-rule (7), for the words "Annual Information Return", the words "Annual
       Information Return or Statement of Financial Transaction" shall be substituted;
  (v) in this rule, except sub-rules (1), (4) and (7), for the word "return", wherever it occurs,
      the words "return or statement" shall be substituted.

3. In the Appendix II to the Rules, in Form No.61A,--
    (a) for the words "Annual Information Return", wherever they occur, the words "Annual
        Information Return or Statement of Financial Transactions" shall be substituted;
    (b) for the word "return", wherever it occurs, the words "return or statement" shall be
        substituted.

4. Rule 114E of the Rules, as amended by this rule shall be applicable for the specified
financial transactions carried out during the period from 1st April, 2015 to 31st March, 2016.







                                      [Notification No.19/2016][F.No.142/28/2012-(SO)TPL]




                                                                                 (Ekta Jain)
                                                     Deputy Secretary to Government of India

Note:- The principal rules were published vide notification S.O. 969 (E), dated the 26th
March, 1962 and last amended vide notification S.O.1146 (E), dated the 17th March 2016.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions