Income-tax (2nd Amendment) Rules, 2021

Last updated: 11 March 2021

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The Central Board of Direct Taxes has introduced the Income-Tax (2nd Amendment) Rules, 2021. These rules further amend the Income-Tax Rules, 1962. Key changes involve specific provisos being inserted into rule 10V, affecting applications made under certain conditions, particularly for the previous year beginning April 1, 2021.

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 9th March, 2021 INCOME-TAX G.S.R. 162(E).In exercise of the powers conferred by clause (m) of sub-section (3) of section 9A read with 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:- 1. Short title and commencement(1) These rules may be called the Income-tax

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FAQ :

These are new rules made by the Central Board of Direct Taxes to further amend the Income-Tax Rules, 1962.

The rules come into force on the date of their publication in the Official Gazette.

Rule 10V of the Income-Tax Rules, 1962, is being amended by inserting new provisos.

Yes, the provisions of sub-rule (3) of rule 10VA shall not apply to an application made under the second proviso if it is for the previous year beginning on April 1, 2021, and made on or before February 1, 2021.