MINISTRY OF FINANCE
(Department of Revenue)
[CENTRAL BOARD OF DIRECT TAXES]
NOTIFICATION
New Delhi, 17th August, 2022
INCOME-TAX
G.S.R. 632(E).—In exercise of the powers conferred under clause (a) of Explanation 3 to the third proviso to
clause (23C) of section 10 and clause (a) of sub-section (2) of 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. Short title and commencement. (1) These rules may be called the Income-tax (25th Amendment) Rules, 2022.
(2) They shall come into force from 1st day of April, 2023.
2. In the Income-tax Rules, 1962 (hereinafter referred to as principal rules), for rule 17, the following rule shall
be substituted, namely:-
“17. Exercise of option etc. under Explanation 3 to the third proviso to clause (23C) of section 10 or
section 11.– (1) The option to be exercised in accordance with the provisions of the Explanation to sub-section (1) of
section 11 of the Act 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 of the Act 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 clause (a) of
the Explanation 3 to the third proviso to clause (23C) of section 10 of the Act or under clause (a) of
sub-section (2) of section 11 of the Act or under the said provision as applicable under clause (21) of
section 10 of the Act shall be in Form No. 10 and shall be furnished before the expiry of the time
allowed under sub-section (1) of section 139 of the Act, 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.
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