Income Tax

CBDT amends Rule 10DA, 10DB and Form No. 3CEAB related to international or specified domestic transactions

CBDT amends Rule 10DA, 10DB and Form No. 3CEAB related to maintenance and furnishing of information by persons entering into international or specified domestic transactions

MINISTRY OF FINANCE
Department of Revenue
CENTRAL BOARD OF DIRECT TAXES

Notification No. 31/2021

New Delhi, the 5th April, 2021

Income-tax

G.S.R 250(E).—In exercise of the powers conferred by sub-section (1) and sub-section (4) of section 92D and sub-section (8) of section 286 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely: –

1. Short title and commencement. —(1) These rules may be called the Income-tax (9th Amendment) Rules, 2021.

(2) They shall come into force on the 1st day of April, 2021.

2. In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), in rule 10DA,−

(a) in sub-rule (2), for the word “Commissioner”, the word “Director” shall be substituted;

(b) in sub-rule (4),−

(i) for the words “constituent entities resident in India of an international group” the words, brackets and figure “constituent entities of an international group required to file the information and document under sub-rule (2),” shall be substituted;

(ii) in clause (b), for the word “Commissioner”, the word “Director” shall be substituted.

3. In the principal rules, in rule 10DB, −

(a) for sub-rule (1) the following sub-rule shall be substituted, namely: −

“(1) The income-tax authority for the purposes of section 286 shall be the Joint Director as may be designated by the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be.”;

(b) in sub-rule (6), for the words “five thousand five hundred” the words “six thousand four hundred” shall be substituted.

4. In the principal rules, in the Appendix II, in Form No. 3CEAB, in the heading, the words “, resident in India,” shall be omitted.

[F. No.370142/19/2019-TPL]

NEHA SAHAY,
Under Secy. (Tax Policy Legislation Division)

Explanatory Memorandum: It is hereby certified that no person is being adversely affected by giving retrospective effect to this notification.

Note. The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii) vide notification number S.O. 969(E), dated the 26th March, 1962 and was last amended vide notification number G.S.R 246(E), dated 1st April, 2021

Download Notification Click Here >>

----------- Similar Posts: -----------

HC dismissed appeal against inadequacy of sentence in income tax prosecution cases

Appeal against inadequacy of sentence passed by special court in income tax prosecution cases dismissed by High Court In a…

3 hours ago

ICSI

ICSI launches CS Mitr Scheme to give incentive for student registrations

ICSI launches CS Mitr Scheme to give incentive for getting student registered in Executive Programme ICSI has launched CS Mitr…

6 hours ago

Income Tax

CPC order u/s 143(1) is appealable and hence no merger with order u/s 143(3) – ITAT

CPC order u/s 143(1) is appealable and hence the doctrine of merger with order u/s 143(3) do not arise -…

20 hours ago

Under GST Act, there is no specific provision to disclose route of transportation of goods

Under GST Act, there is no specific provision which bounds selling dealer to disclose route to be taken during transportation…

22 hours ago

Companies Act

Restrictions on use of words “Nidhi Limited”-The Nidhi (Amendment) Rules, 2024

Restrictions on use of words Nidhi Limited unless declared as such under section 406(1). Nidhi (Amendment) Rules 2024 MINISTRY OF…

23 hours ago

Companies Act

MCA prescribes period & fee for updating directors personal mobile number & email

MCA prescribes period and fee for updating of Directors personal mobile number or email address by e-form DIR-3 KYC MINISTRY…