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