Income-tax (14th Amendment) Rules, 2019

Nov 19, 2019 | by Avantis RegTech Legal Research Team


The Central Board of Direct Taxes (CBDT) on November 18, 2019, has published the Income-tax (14th Amendment) Rules, 2019, to further amend the Income-tax Rules, 1962.

Some of the major amendments are as under:

Ø  Under Rule 30 which specifies the time and mode of payment to Government account of tax deducted at source or tax paid under section 192(1A),

a)       Sub-rule (2C) has been inserted, namely:

Notwithstanding anything contained in sub-rule (1) or sub-rule (2), any sum deducted under section 194M which specifies the payment of certain sums by certain individuals or Hindu undivided family, shall be paid to the credit of the Central Government within a period of thirty days from the end of the month in which the deduction is made and shall be accompanied by a challan-cum statement in Form No. 26QD.

b)      Sub-rule (6C) has been inserted, namely:

Where tax deducted is to be deposited accompanied by a challan-cum-statement in Form No.26QD, the amount of tax so deducted shall be deposited to the credit of the Central Government by remitting it electronically within the time specified in sub-rule (2C) into the Reserve Bank of India or the State Bank of India or any authorised bank.

Ø  Under Rule 31 which specifies the procedure for furnishing the Certificate of tax deducted at source under section 203, sub-rule (3C) has been inserted, namely:

Notwithstanding anything contained in sub-rule (1) or sub-rule (2) or sub-rule (3), every person responsible for deduction of tax under section 194M shall furnish the certificate of deduction of tax at source in Form No.16D to the payee within fifteen days from the due date for furnishing the challan-cum-statement in Form No.26QD under rule 31A after generating and downloading the same from the web portal specified by the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) or the person authorised by him.

Ø  Under Rule 31A which specifies the provision regarding Statement of deduction of tax under section 200(3), sub-rule (4C) has been inserted, namely:

Notwithstanding anything contained in sub-rule (1) or sub-rule (2) or sub-rule (3) or sub-rule (4), every person responsible for deduction of tax under section 194M shall furnish to the Principal Director General of Income-tax (Systems) or Director General of Income-tax (System) or the person authorised by the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) a challan-cum statement in Form No.26QD electronically in accordance with the procedures, formats and standards specified under sub-rule (5) within thirty days from the end of the month in which the deduction is made.

Ø  Form 16D is for furnishing the certificate of deduction of tax at source has been inserted.

[Notification No. G.S.R.858(E)]


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