CBDT on June 17, 2022 issued the income-tax (18th Amendment) Rules, 2022 to further amend the Income-tax Rules, 1962.
The following amendment has been made:
In rule 10TD, which specifies Safe Harbour, sub-rule 3B has been substituted, namely:
(3B) The provisions of sub-rules (1) and (2A) shall apply for the [assessment years 2020-21, 2021-22 and 2022-23]
This amendment is effective from 1st day of April, 2022 and applies to assessment year 2022 -2023 relevant to previous year 2021-2022. Accordingly, it is hereby certified that no person is being adversely affected by giving retrospective effect to these rules.
Official copy of the notification has been mentioned below
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 17th June, 2022
INCOME-TAX
G.S.R. 458(E). - In exercise of the powers conferred by section 295 read with sub-section (2) of section 92CB 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 (18th Amendment) Rules, 2022.
(2) They shall be deemed to have come into force from the 1st day of April, 2022.
2. In the Income-tax Rules, 1962, in rule 10TD, in sub-rule (3B), for the words and figures "assessment years 2020-21 and 2021-22", the words and figures "assessment years 2020-21, 2021-22 and 2022-23"
shall be substituted.
[Notification No. 66 /2022/F. No. 370142/26/2022-TPL]
NEHA SAHAY, Under Secy.
Explanatory Memorandum: This amendment is effective from 1st day of April, 2022 and applies to assessment year 2022 -2023 relevant to previous year 2021-2022.
Accordingly, it is hereby certified that no person is being adversely affected by giving retrospective effect to these rules.
Note: The principal rules were published in the Gazette of India, Extraordinary, Part-II, section-3, subsection (ii) vide number S.O. 969 (E) dated the 26th March, 1962 and were last amended vide
notification number G.S.R. 455 (E), dated the 16th June, 2022.
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