Income Tax Rules by Taxmann Publications

This book covers the Amended, Updated & Annotated text of the Income-tax Rules and 20+ Allied Rules.

The recent changes in the Income-tax Rules, 1962 are as follows:

[Omitted] Omission of outdated 24 Rules and 70+ Forms

[Insertion of New Rules & Changes in Existing Rules] Insertion of 24 new Rules and changes in 20 existing Rules

[Insertion of New Forms & Changes in Existing Forms] Insertion of 20 new Forms and change in 16 existing Forms

[New Rules]

New Rule for computation of capital gains on the sum received from ULIPs that are not exempt under section 10(10D)

New Rules and Forms for registration and approval of charitable trusts, institutions, and funds

New Rules to claim relief on offshore indirect transfer of Indian assets by entities impacted by the retrospective amendment

New Rule specifying the threshold limit for significant economic presence

New Rule for computing taxable interest on provident fund contributions exceeding threshold limits

New Form 12BBA to be submitted by senior citizens to claim the benefit of section 194P

The Present Publication is the 59th Edition & updated till the Income Tax (Fifth Amendment) Rules 2022, authored by Taxmann's Editorial Board, with the following noteworthy features:

[Coverage] of this book includes:

All Rules and Schemes, which are either notified under the Income-tax Act or referred to in different provisions of the Income-tax Act, are covered

Return Forms for A.Y. 2022-23

Contains 23 divisions covering all Rules relevant under the Income-tax Act, i.e.,

Income-tax Rules

ICDS

Faceless Assessment, Appeal & Penalty Scheme with Directions

STT, CTT & EL, etc.

[Action Points for Forms] All Forms carry Action Points that explain the Relevant Provisions and Process of Filing

[Quick Identification for Redundant & e-Forms]

[Bestseller Series] Taxmann's series of Bestseller Books for more than Five Decades

[Zero Error] Follows the Six Sigma Approach to achieve the benchmark of 'Zero Error'

The contents of the book are as follows:

Income-tax Rules, 1962 amended up to date with a list of e-Forms & text of provisions of Allied Law

Income Computation and Disclosure Standards

Income-tax (Appellate Tribunal) Rules, 1963 along with the text of the Standing Order under Income-tax (Appellate Tribunal) Rules 1963, other Notifications & Instructions, and text of the Income-tax Appellate Tribunal Members (Recruitment and Conditions of Service) Rules 1963

Faceless Assessment Scheme, 2019 with Directions

Faceless Appeal Scheme, 2021

Faceless Penalty Scheme, 2021 with Directions

Commodities Transaction Tax Rules, 2013

Securities Transaction Tax Rules, 2004 as amended up to date

Equalisation Levy Rules, 2016

Prohibition of Benami Property Transaction Rules, 2016

Income-tax (Dispute Resolution Panel) Rules, 2009

Authority for Advance Rulings (Procedure) Rules, 1996

Centralized Verification Scheme, 2019

Centralized Processing of Returns Scheme, 2011 with the text of Application of provisions of Act relating to the processing of Returns

e-Settlement Scheme, 2021

e-Verification Scheme, 2021

e-Advance Rulings Scheme, 2022

Capital Gains Accounts Scheme, 1988

Reverse Mortgage Scheme, 2008

Reduction of Wavier of Interest under Section 234A/234B/234C with CBDT's Instructions for waiver or reduction of interest

Delay in Filing Refund Claim with condonation of delay in filing refund claim and claim of carry forward of losses under section 119(2)(b) of the Income-tax Act

Relaxation of Validation (Section 119 of the Finance Act 2012) Rules, 2021

Return Forms

ITR-1 | SAHAJ – Individual Income Tax Return

ITR-2 | Return of Income - For Individuals and HUFs not having income from profits and gains of business or profession

ITR-2A | [Omitted by the IT (Fourth Amdt.) Rules, 2017, w.e.f. 1-4-2017]

ITR-3 | Return of Income - For Individuals and HUFs having income from profits and gains of business or profession

ITR-4 | SUGAM – Form Individuals, HUFs and Firms (other than LLP) being a resident having total income up to Rs. 50 lakh and having income from business and profession, which is computed under section 44AD, 44ADA or 44AE [Not for an individual who is either Director in a company or has invested in unlisted equity shares or if income-tax is deferred on ESOP or has agricultural income more than Rs. 5000]

ITR-4 | [Omitted by the IT (Fourth Amdt.) Rules, 2017, w.e.f. 1-4-2017]

ITR-5 | Return of Income - For persons other than — (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7

ITR-6 | Return of Income - For Companies other than companies claiming exemption under section 11

ITR-7 | Return of Income - For persons including companies required to furnish returns under section 139(4A) or 139(4B) or 139(4C) or 139(4D) only

ITR-8 | [Omitted by the IT (Twenty-First Amdt.) Rules, 2021, w.e.f. 29-7-2021]

ITR-V | Verification Form | Acknowledgment

Income-tax (Certificate Proceedings) Rules, 1962

Income-tax Settlement Commission (Procedure) Rules, 1997

Tax Return Preparer Scheme, 2006

Bank Term Deposit Scheme, 2006

Sukanya Samriddhi Account Scheme, 2019

Senior Citizens' Savings Scheme, 2019

Kisan Vikas Patra Scheme, 2019

Public Provident Fund Scheme, 2019

National Savings Certificates (VIII Issue) Scheme, 2019