Master Guide to Income Tax Rules by Taxmann

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

risks

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

trusts

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.