Final notification of the Income-tax (12th Amendment) Rules, 2021 – CBDT

  • 04th, May 2021
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Final notification of the Income-tax (12th Amendment) Rules, 2021 – CBDT

  • This notification has come into effect from 30.04.2021.
  • In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), after rule 44D, the following rule shall be inserted, namely:
  • “44DA. Exercise of option under sub-section (1) of section 245M and intimation thereof.-
  • The exercise of option by an assessee to withdraw his pending application under sub-section (1) of section 245M shall be in Form No. 34BB.
  • Form No. 34BB shall be verified by the person who is authorised to verify the return of income of the assessee under section 140.
  • Form No. 34BB shall be furnished electronically in accordance with the procedures, formats and standards specified by the Principal Director-General of Income-tax (Systems) or Director-General of Income-tax (Systems), as the case may be, and thereafter signed printout of the said form shall be uploaded in the manner specified by the Principal Director-General of Income-tax (Systems) or Director-General of Income-tax (Systems), as the case may be, under sub-rule (4).
  • The Principal Director-General of Income-tax (Systems) or Director-General of Income-tax (Systems), as the case may be, shall specify the procedures, formats and standards for the purposes of furnishing and verification and manner of uploading of Form No. 34BB.”
  • In the principal rules, in Appendix-II, after Form No. 34BA, the following Form shall be inserted.
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