Income-tax (8th Amendment) Rules, 2019

Sep 20, 2019 | by Avantis RegTech Legal Research Team


The Central Board of Direct Taxes (CBDT) on September 17, 2019, has published the Income-tax (8th Amendment) Rules, 2019 to further amend the Income-tax Rules, 1962. They shall come into force from the date of its publication in the Official Gazette that is September 17, 2019.

The amendments made in the Income-tax (8th Amendment) Rules, 2019 are as follows:-

Ø  New Rules are inserted after Rule 10UC regarding “DE.- Approving Panel

Rule 10UD related to “Reference to the Approving Panel”- A reference under Section 144BA(4) to an Approving Panel shall be-

(i)         made in Form No 3CEIA along with a copy of Form No 3CEI and such other documents which the Principal Commissioner or the Commissioner deems fit; and

(ii)                submitted in four sets, either in Hindi or English.

Rule 10UE related to “Procedure before the Approving Panel”-

(1)  A reference received under rule 10UD shall be caused to be circulated by the Chairperson of the said Panel among the other members within 7 days from the date of receipt of such reference.

(2) The Chairperson of the Approving Panel shall cause to be issued the notice to the Assessing Officer and the assessee affording an opportunity of being heard specifying therein the date and place of hearing.

(3) The meetings of the Approving Panel shall take place at such place as the Approving Panel may decide.

Rule 10UF related to “Remuneration”-

(1) For attending the meeting of an Approving Panel, the Chairperson and other members of the said Panel shall be entitled to-

(i)                a sitting fee of six thousand rupees per day; and

(ii)            travelling allowances including transportation charges for local travel and daily allowances (including accommodation) as admissible to an officer of the rank of Special Secretary to the Government of India.

(2) The expenditure of an Approving Panel shall be met from the budgetary grants of the Department of Revenue in the Ministry of Finance of the Central Government

ØA new Form No. 3CEIA under Rule 10UD has been inserted.

[Notification No. G.S.R. 662(E)]


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