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Master Guide to Income Tax Rules by Taxmann

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Short Description :


This unique book provides an in-depth Rule-wise commentary on the Income Tax Rules, 1962.


The Present Publication is the 29th Edition, incorporating all the amendments till the Income-tax (Second Amendment) Rules, 2022. Taxmann's Editorial Board authors this book with the following coverage:


[Detailed Analysis] on every Rule of Income Tax Rules, 1962

[Statutory Background of the Section] which delegates the power to the Central Board of Direct Taxes to notify the Rule

[Simplified Language] to explain each provision of the Rules

[Gist of All Circulars and Notifications] issued by the Department in each Rule, which are still in force

[Income-tax Compliances] to be done in each Rule

The detailed coverage of the book is as follows:


Rule 2A – House rent allowance

Rule 2B - Leave travel concession

Rule 2BA – Amount received on voluntary retirement

Rule 2BB – Special allowances Rule 2BBA – Family pension to heirs of members of Armed Forces

Rule 2BBB – Percentage of Govt. grant for considering university, etc., as substantially financed by Govt. for purposes of section 10(23C)

Rule 2BC – Exemption for income of universities/educational institutions/hospitals, etc.

Rule 2C – Charitable or religious institutions/Educational institutions/Hospitals

Rule 2DB & 2DC - Sovereign Wealth Fund/Pension Fund

Rule 2DD - Computation of exempt income of Specified Fund for the purposes of section 10(23FF)

Rule 2F – Guidelines for setting up Infrastructure Debt Fund

Rule 3 – Valuation of perquisites

Rule 3A - Exemption to medical benefits/perquisites

Rule 3B – Provident Fund, Annual Accretion referred to in section 17(2)(viia)

Rule 4 – Unrealised rent

Rule 5 – Depreciation

Rule 5AC – Tea/Coffee/Rubber development account

Rule 5AD – Site restoration fund

Rule 5C to 5E – Scientific Research Associations - Guidelines, conditions, etc., in respect of approval under clauses (ii) and (iii) of section 35(1)

Rule 5CA – Scientific Research Associations - Intimation under fifth proviso to section 35(1)

Rule 5F – Scientific Research Associations - Guidelines, conditions, etc., in respect of approval under clause (iia) of section 35(1)

Rule 5G – Tax on income from patent

Rule 6 – Scientific research, expenditure on

Rule 6A - Expenditure for obtaining right to use spectrum for telecommunication services

Rule 6AAC – Expenditure on conservation of natural resources

Rule 6AAD & AAE – Agricultural extension project

Rule 6AAF & AAH – Skill development project

Rule 6AB – Amortisation of preliminary expenses, etc.

Rule 6ABA – Provision for bad and doubtful debts

Rule 6ABAA – Conditions for being notified as infrastructural facility

Rule 6ABBA – Other electronic modes

Rule 6DD – Disallowance of cash payment

Rule 6DDA & DDB – Speculative transactions – Derivatives

Rule 6E – Insurance business - Reserves for unexpired


Rule 6EA & EB – Categories of bad or doubtful debts in case of public company

Rule 6F – Maintenance of books of account

Rule 6G – Report of audit of accounts under section 44AB

Rule 6GA – Computation of income by way of royalties,

etc., in case of non-residents

Rule 6H – Computation of capital gains in case of

slump sale

Rule 7 – Income which is partially agricultural and partially from business

Rule 7A – Income from the manufacture of rubber

Rule 7B – Income from the manufacture of coffee

Rule 8 – Income from manufacture of tea

Rule 8AA – Capital Assets

Rule 8AB – Capital gains, attribution of income taxable under section 45(4) to capital assets remaining with specified entity, under section 48

Rule 8AC – Capital gains: Computation of short-term capital gains and written down value under section 50 where depreciation on goodwill has been obtained

Rule 8AD – Capital gains, Computation for the purposes of section 45(1B)

Rule 8B & 8C – Zero-Coupon Bonds

Rule 8D – Method for determining amount of expenditure in relation to income not includible in total income

Rule 9A & 9B – Amortisation of expenditure on feature films

Rule 9C – Carry forward and set off of accumulated loss and unabsorbed depreciation allowance in case of amalgamation

Rule 9D – Provident Fund/Recognised Provident Fund

Rule 10 – Determination of income in case of non-residents

Rule 10A to 10THD – Transfer Pricing

Rule 10DB – Furnishing of report in respect of International Group

Rule 10RB – Minimum Alternate Tax

Rule 10U to 10UF – General Anti-Avoidance Rules

Rule 10V to 10VB – Certain activities not to constitute business connection in India

Rule 11A – Deductions to persons with disability or severe disability

Rule 11AA – Donation to charitable trusts, etc. requirement for approval of institution of fund under section 80G(5)(vi)

Rule 11B – Deduction in respect of rents paid

Rule 11DD – Deduction in respect of medical treatment for specified diseases

Rule 11EA – Deduction to industrial undertakings located in industrially backward districts

Rule 11F to 11-O – National committee for promotion of social and economic welfare

Rule 11-OA – Guidelines for notification of affordable housing project as specified business under section 35AD

Rule 11-OB – Guidelines for notification of a semi-conductor wafer fabrication manufacturing unit as specified business under section 35AD

Rule 11P to 11T – Tonnage Tax Scheme for Shipping Companies

Rule 11U & 11UA(1) – Valuation of gifts

Rule 11UA(2) – Start-ups

Rule 11UAA – Special provision for full value of consideration for transfer of share other than quoted share

Rule 11UAB – Determination of fair market value of inventory

Rule 11UAC – Prescribed class of persons for the purpose of clause (XI) of the proviso to clause (x) of sub-section (2) of section 56

Rule 11UAD – Prescribed class of persons for the purpose of section 50CA

Rule 11UAE – Slump Sale

Rule 11UB & 11UC – Indirect transfer - Manner of determination of Fair Market Value & reporting requirement for Indian concern

Rule 11UD – Income deemed to accrue or arise in India – Threshold for purpose of significant economic presence

Rule 11UE & UF – Income deemed to accrue or arise in India - Specified conditions under Explanation to fifth/sixth proviso to Explanation 5 to section 9(1)(i)

Rule 12 – Return of income

Rule 12A – Preparation of return by authorised representative

Rule 12AA – Return of income, signing of

Rule 12C – Tax on income received from Venture Capital Companies/Funds

Rule 12CA – Business Trust

Rule 12CB – Investment Fund

Rule 12CC – Securitization Trust

Rule 12D – Power to call for information by prescribed Income-tax Authority

Rule 12E – Prescribed authority under section 143(2)

Rule 12F – Prescribed Income-tax Authority under second proviso to section 142(1)(i)

Rule 14 – Inquiry before assessment – Form of verification

Rule 14A – Inquiry before assessment - Special Audit

Rule 14B – Guidelines for purposes of determining expenses for Special Audit

Rule 14C – Faceless assessment: Prescribed manner of authentication of an electronic record under electronic verification code under section 144B(7)(i)(b)

Rule 15 – Notice of demand

Rule 16 – Avoidance of repetitive appeals

Rule 16B – Exemption in respect of remuneration to consultants, etc.

Rule 16C – Exemption to Employees' Welfare Funds

Rule 16CC – Audit report to be furnished by certain entities referred to in section 10(23C)

Rule 16DD – Free Trade Zones, industrial undertakings in

Rule 17 – Exercise of option under section 11

Rule 17A & 17B – Application for Registration of Charitable or religious trust etc.

Rule 17C – Modes of investment by charitable/religious


Rule 17CA – Electoral Trust

Rule 17CB – Tax on accreted income of a trust

Rule 18AAA – Donations to universities/educational institutions

Rule 18AAAAA – Deduction on donations to games/sports associations/institutions

Rule 18AB – Furnishing of statement of particulars and certificate under section 80G(5)(viii)/(ix) or under section 35(1A)

Rule 18BBB – Deductions to undertakings, hotels, etc.

Rule 18BBE – Deduction from profits of certain activities forming part of a Highway Project

Rule 18C – Deduction to undertakings operating notified industrial parks

Rule 19AB – Deduction in respect of employment of new workmen

Rule 19AC – Deduction in respect of royalty income, etc., of authors of certain books other than text books

Rule 19AD – Deduction in respect of royalty on patents

Rule 19AE – Deduction in respect of certain incomes of Offshore Banking Unit

Rule 20 & 20A – Deduction under section 80C(2)(xix) and (xx)

Rule 21A – Relief when salary is received in arrears or in advance

Rule 21AA – Relief on salary in the case of specified employees

Rule 21AB – Tax Residency Certificate for claiming double taxation relief

Rule 21AC – Transactions with persons located in notified jurisdictional areas

Rule 21AD – Tax on income of certain manufacturing domestic companies

Rule 21AE & 21AF – Tax on income of certain domestic companies/new manufacturing domestic companies

Rule 21AG – Tax on income of Individuals & HUFs

Rule 21AH – Tax on income of certain resident Co-operative societies

Rule 21AI – Computation of exempt income of specified fund under section 10(4D)

Rule 21AJ – Foreign institutional investor: Determination of income of specified fund attributable to units held by non-residents under section 115AD(1A)

Rule 21AJA & 21AJAA – Computation of exempt income of specified fund attributable to the investment banking division of an offshore banking unit for purposes of section 10(4D)/Determination of income of specified fund attributable to investment division of an offshore banking unit under section 115AD(1B)

Rule 21AK – Non-deliverable Forward Contracts/offshore derivative instruments or counter derivatives

Rule 26 to 37BC – Deduction of tax at source

Rule 37C to 37J – Collection of tax at source

Rule 29A – Deduction in respect of certain items of receipts from foreign sources

Rule 38 – Notice of demand for advance tax

Rule 39 – Estimate of advance tax

Rule 40B – Minimum alternate tax for companies

Rule 40BA – Alternate Minimum Tax for Limited Liability Partnerships

Rule 40BB – Tax on distributed income of domestic company for buy-back of shares

Rule 42 to 44 – Tax clearance certificate

Rule 44C, 44CA & 44D – Settlement Commission

Rule 44DA – Settlement Commission: Exercise of option to withdraw application pending before Settlement Commission

Rule 44E & 44F – Advance rulings

Rule 44G – Mutual Agreement Procedure

Rule 45 to 46A – Appeal to Commissioner (Appeals)

Rule 47 – Appeal to Appellate Tribunal

Rule 49 to 66 – Authorised representative

Rule 67 to 81 – Recognised provident funds

Rule 82 to 97 – Approved superannuation funds

Rule 98 to 111 – Approved gratuity funds

Rule 111A & 111AB - Conditions for reference to Valuation Officer

Rule 111B – Publication and circulation of Board's order

Rule 112 to 112C – Search and seizure

Rule 112D – Requisition of books of account, etc.

Rule 112E – Collection of information

Rule 112F – Search cases where compulsory reopening of past six years not required

Rule 113 – Disclosure of information respecting assessees

Rule 114 – Permanent Account Number

Rule 114A – Tax Deduction and Collection Account Number

Rule 114AA – Tax Collection Account Number

Rule 114AAA – Aadhaar Number, Quoting of

Rule 114AAB – Permanent Account Number - Class or classes of persons to whom PAN provisions not applicable

Rule 114B to 114D – Quoting of Permanent Account Number or Aadhaar number in documents pertaining to certain prescribed transactions

Rule 114DA – Furnishing of annual statement by a non-resident having liaison office in India

Rule 114DB – Furnishing of information or documents by Indian concern in certain cases

Rule 114E to 114H – Obligation to furnish/statement of financial transaction or reportable account

Rule 114-I – Annual Information Statement

Rule 115 – Rate of exchange for conversion of income in foreign currency

Rule 115A – Computation of capital gains on transfer of shares/debentures by non-residents

Rule 117B & 117C – Certificate to Tax Recovery Officer

Rule 119A – Procedure for calculation of interest

Rule 119AA – Acceptance of payment through prescribed electronic modes

Rule 121A – Statement by producers of cinematograph films

Rule 125 – Electronic payment of tax

Rule 126 – Residential status

Rule 127 – Service of notice

Rule 127A – Authentication of notices and other documents

Rule 128 – Foreign Tax Credit

Rule 129 – Immunity from prosecution under section 270AA

Rule 131 – Electronic furnishing of returns, etc.



Dr Vinod K. Singhania got his PhD from the Delhi School of Economics in 1976. His field of special interest includes all facets of corporate legislation and corporate economics, especially tax laws.

Associated in different capacities with several professional institutes and business houses in India and abroad, Dr Singhania has authored many popular books and software published by Taxmann.

He has to his credit more than 300 research articles that have appeared in leading journals. He has been a resource person in over 800 seminars in India and abroad.

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