income tax payments are mandatorily to be made only electronically
w.e.f.1.4.2008, for companies and others liable for tax audit under
section 44 AB.
exercise of the powers conferred by sub-section (1) of Section 295 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:-
the word “tax” shall have the meaning as assigned to it in clause (43)
of Section 2 of the Act and shall include interest and penalty”.
principal rules were published vide notification number S.O.969(E),
published in the Gazette of India, Extraordinary, Part-II, Section 3,
Sub-section (ii) dated the 26th March, 1962 and last amended by
Income-tax (Third Amendment) Rules, 2008 vide No. S.O. 243(E)
dated 5th February, 2008.