Income-tax Act, 2025

Power to make rules - Section 533

Power to make rules.

533. (1) The Board may, subject to the control of the Central Government, by notification, make rules for carrying out the purposes of this Act.

(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters:

(a) the ascertainment and determination of any class of income;

(b) the manner in which and the procedure by which the income shall be arrived at in the case of

(i) income derived in part from agriculture and in part from business;

(ii) persons residing outside India;

(iii) operations carried out in India by a non-resident;

(iv) transactions or activities of a non-resident;

(v) an individual who is liable to be assessed under section 99(3) and (4);

(c) the determination of the value of any perquisite chargeable to tax under this Act in such manner and on such basis as appears to the Board to be proper and reasonable;

(d) the percentage on the written down value which may be allowed as depreciation for buildings, machinery, plant or furniture;

(e) the matters specified in section 62;

(f) the conditions or limitations subject to which any payment of rent made by an assessee shall be deducted under section 134;

(g) the matters specified in Chapter XI;

(h) the time within which any person may apply for the allotment of a Permanent Account Number, the form and the manner in which such application may be made and the particulars which such application shall contain and the transactions with respect to which Permanent Account Number shall be quoted on documents relating to such transactions under section 262;

(i) the documents, statements, receipts, certificates or audited reports which may not be furnished along with the return but shall be produced before the Assessing Officer on demand under section 263(2)(a);

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