Income-tax (10th Amendment) Rules, 2019

Oct 03, 2019 | by Avantis RegTech Legal Research Team


The Central Board of Direct Taxes (CBDT) on September 27, 2019, has published the Income-tax (10th Amendment) Rules, 2019 to amend Rule 37 BA of the Income-tax Rules, 1962, which talks about Credit for tax deducted at source for the purposes of section 199 (Credit for tax deducted).

Under rule 37BA, after sub-rule (3), the following sub-rule has been inserted, namely:

Sub-rule (3A): Notwithstanding anything contained in sub-rule (1), sub-rule (2) or sub-rule (3), for the purposes of section 194N, credit for tax deducted at source shall be given to the person from whose account tax is deducted and paid to the Central Government account for the assessment year relevant to the previous year in which such tax deduction is made.

They shall be deemed to have come into force with effect from September 01, 2019.

[Notification No. G.S.R. 694(E)]


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