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 revised rule, all specified forms must now be filed electronically, which aligns with the CBDT's broader initiative to modernize and simplify tax procedures. The update is expected to enhance the ease of filing, reduce paperwork, and support timely processing by income tax authorities.
In exercise of the powers conferred under sub-rule (1) and sub-rule (2) of Rule 131 of the Income-tax Rules, 1962 ('the Rules'), the Director General of Income Tax (Systems), Bengaluru with the approval of the Board, hereby specifies that the following Forms shall be furnished electronically and shall be verified in the manner prescribed under sub-rule (1) of Rule 131:
|
Form |
Description |
|
Form 3CEDA |
Application for rollback of an Advance Pricing Agreement |
|
Form 3C-O |
Application form for approval under sub-section (1) of section 35CCC of the Income-tax Act, 1961 |
This Notification shall come into effect from 31st October 2024.
Official copy of the notification has also been attached
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