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 The Integrated Goods And Services Tax Act, 2016

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.

 
 
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