Procedure for exercise of option under sub-section (1) of section 245M and intimation thereof by furnishing and upload of Form No. 34BB under sub-rule (1) of Rule 44DA of Income-tax Rules, 1962

Last updated: 25 May 2021

Save Share

Quick Summary

This notification outlines the procedure for exercising an option under sub-section (1) of section 245M of the Income-tax Act. It details how to furnish and upload Form No. 34BB, as required by sub-rule (1) of Rule 44DA of the Income-tax Rules, 1962. The process involves a simple two-step procedure.

DGiT(S)-ADG(S)-3/e-Filing Notification/Form34BB/2021/ Government of India Ministry of Finance Central Board of Direct Tax Directorate of Income Tax (Systems), New Delhi Notification No.05 of 2021 New Delhi, the 24th May,2021 Procedure for exercise of option under sub-section (1) of section 245M and intimation thereof by furnishing and upload of Form No. 34BB under sub-rule (1)of Rule 44DAof Income-tax Rules, 1962 In exercise of the powers conferred by the Department of Revenue, Minis

Daily Limit Reached

You have reached your daily limit of 2 Free Notice & Circular

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?

No Ads
WhatsApp Community
Daily E-Newsletter
Unlimited Notice & Circular Access
Profile Visitors
Link Social Profiles
Featured Job Posts
Pro Badge
Expert GST Guidance
Unlimited Forum Replies
Download Content in PDF

1 Year PLAN

1999

(Excl. of GST ₹359)

2 Years PLAN

3499

(Excl. of GST ₹629)

BEST VALUE

3 Years PLAN

4999

(Excl. of GST ₹899)

View all CCI PRO benefits

Already a PRO member? Login here for an ad-free experience. 07941056694

FAQ :

This notification specifies the procedure for exercising an option under sub-section (1) of section 245M and intimating this by furnishing and uploading Form No. 34BB.

Form No. 34BB needs to be furnished and uploaded.

Form 34BB is required under sub-rule (1) of Rule 44DA of the Income-tax Rules, 1962.

The relevant section is sub-section (1) of section 245M of the Income-tax Act.

The procedure for furnishing and uploading Form No. 34BB involves a 2-step process.

Notification No : Notification No.5 of 2021
Source : https://www.incometaxindia.gov.in/communications/notification/notification_no_5_2021.pdf

198 Views Comment Share Income Tax Report

Notification posted by

CCI News Desk

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

Comments