Quick Summary
In a significant update for taxpayers, the Central Board of Direct Taxes (CBDT), through the Directorate of Income Tax (Systems), issued Notification No. 5/2024 on October 30, 2024, mandating the electronic submission of certain forms listed in Appendix-II of the Income Tax Rules, 1962. This directive applies to forms required under sub-rule (1) and sub-rule (2) of Rule 131, thereby facilitating streamlined digital compliance and improving the efficiency of income tax processes. Under the revis
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FAQ :
The CBDT now mandates the electronic submission of certain specified forms under Rule 131 of the Income Tax Rules, 1962.
This notification comes into effect from 31st October 2024.
The forms specified are Form 3CEDA (Application for rollback of an Advance Pricing Agreement) and Form 3C-O (Application form for approval under sub-section (1) of section 35CCC of the Income-tax Act, 1961).
The aim is to streamline digital compliance, modernise and simplify tax procedures, enhance the ease of filing, reduce paperwork, and support timely processing by income tax authorities.
The notification was issued by the Directorate of Income Tax (Systems) on behalf of the Central Board of Direct Taxes (CBDT).
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