Income-tax (9th Amendment) Rules, 2020

May 22, 2020 | by Avantis RegTech Legal Research Team


Finance & Taxation Compliance

The Central Board of Direct Taxes (CBDT) on May 20, 2020, publishes the Income-tax (9th Amendment) Rules, 2020, to further amend the Income-tax Rules, 1962.

The following amendments are as under:

Ø  Under rule 10TD which talks about safe harbour, after sub-rule (3A), the following rule shall be inserted, namely:

Sub-rule (3B): The provisions of sub-rules (1) and (2A) shall apply for the assessment year 2020-21.

Ø  Under rule 10TE which specifies the procedure for safe harbour, after the third proviso, the following proviso shall be inserted, namely:

Provided also that nothing contained in this sub-rule shall apply to the option for safe harbour validly exercised under sub-rule (3B) of rule 10TD.

[Notification No. G.S.R. 304(E)]


Bookmark

Related Updates



Alternate Text

Get updates on the go on RuleZbook Mobile App.