Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 8 reasons why old tax regime is still attractive for many taxpayers in this income tax bracket
 March 31 deadline is getting near. How to save income tax with tax loss harvesting?
 45-day MSME payment rule: Impact and details of Section 43B(h) explained
 Small savings schemes that offer tax benefits of up to Rs 1.5 lakh under section 80C
 RE-OPENING OF CORRECTION WINDOW FOR MAY 2024 CA EXAMINATIONS
 Powerful Upgrades, Tally 12+1 months renewal Plan and Connected Services for your growing Business - March 2024
 How innovative solutions can help fix the Sec 43B conundrum for MSMEs
 Income Tax dept asks many individuals to explain high value transactions of FY20-21 as Updated ITR deadline nears
 Release Notes for TallyPrime and TallyPrime Edit Log Release 4.1 | What s New!
 Deadline to file updated ITR FY20-21 ends on March 31: Details on additional tax
 4 tax-planning mistakes to avoid this season

Relaxation of Validation (section 119 of the Finance Act, 2012) Rules, 2021
October, 15th 2021

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION
New Delhi, the 13th October, 2021

INCOME-TAX


G.S.R. 737(E).—In exercise of the powers conferred by the first provisio to section 119 of Finance Act, 2012
(23 of 2012), the Central Board of Direct Taxes hereby makes the following rules, namely:-
1. Short title and commencement. (1) These rules may be called the Relaxation of Validation (section 119 of the
Finance Act, 2012) Rules, 2021.


(2) They shall come into force from the date of their publication in the Official Gazette.
2. Form and manner of furnishing undertaking under first proviso to section 119.- The form and manner of
furnishing undertaking under Explanation to fifth and sixth proviso to Explanation 5 to clause (i) of sub-section (1) of
section 9 of the Income-tax Act, 1961 (43 of 1961), as prescribed under sub-rule (1) and sub-rule (3) of rule 11UE and
rule 11UF of the Income-tax Rules, 1962, shall mutatis mutandis apply to clauses (i), (ii) and (iii) of the first proviso
to section 119 of the Finance Act, 2012 (23 of 2012).


3. Conditions under clause (iv) of first proviso to section 119.- The conditions for the purposes of clause (iv) of
the Explanation to fifth and sixth proviso to Explanation 5 to clause (i) of sub-section (1) of section 9 of the Income-
tax Act, 1961 (43 of 1961), as prescribed under sub-rule (2) of rule 11UE of the Income-tax Rules, 1962, shall mutatis
mutandis apply to clause (iv) of the first proviso to section 119 of the Finance Act, 2012 (23 of 2012).

[Notification No. 120/2021/ F. No. 370142/47/2021-TPL]
NEHA SAHAY, Under Secy. (Tax Policy and Legislation)

Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting