CBDT publishes the Income-tax (5th Amendment) Rules, 2020

Feb 14, 2020 | by Avantis RegTech Legal Research Team

Finance & Taxation Compliance

The Central Board of Direct Taxes (CBDT) on February 13, 2020, has published the Income-tax (5th Amendment) Rules, 2020 to further amend the Income-tax Rules, 1962.

The amendment inserts new Rule: 114AAA - Manner of making permanent account number inoperative

Ø  Where a person, who has been allotted the permanent account number as on July 01, 2017 and is required to intimate his Aadhaar number, has failed to intimate the same on or before March 31, 2020, the permanent account number of such person will become inoperative immediately after the said date for the purposes of furnishing, intimating or quoting.

Ø  Further the person will be liable for all the consequences under the Act for not furnishing, intimating or quoting the permanent account number.

Ø  Where the person has intimated his Aadhaar number after March 31, 2020, his permanent account number shall become operative from the date of intimation of Aadhaar number for the purposes of furnishing, intimating or quoting.

Ø  The Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) shall specify the formats and standards along with the procedure for verifying the operational status of permanent account number

They will come into force from the date of their publication in the Official Gazette (February 14, 2020).

[Notification No. G.S.R. 112(E)]


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