Income-tax (19th Amendment) Rules, 2022 - Payment on transfer of virtual digital asset - Amends various rules i.e. Due Date of payment of TDS (Rule 30) - Certificate of TDS (Rule 31) - Quarterly statement / Return of TDS (Rule 31A) - New Forms - 67/2022 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 67/2022 New Delhi, the 21st June, 2022 INCOME-TAX G.S.R. 463(E). In exercise of the powers conferred by section 295 read with sections 194B , 194-IA , 194R , 194S and section 206AB of the Income-tax Act, 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 (19th Amendment) Rules, 2022. (2) Save as otherwise provided in these rules, they shall come into force from the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), (a) in rule 30 , with effect from the 1st July, 2022 (i) after sub-rule (2C), the following sub-rule shall be inserted, namely: (2D) Notwithstanding anything contained in sub-rule (1) or sub-rule (2), any sum deducted under section 194S by a specified person referred to in that section 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. 26QE. ; (ii) after sub-rule (6C), the following sub-rule shall be inserted, namely: (6D) Where tax deducted is to be deposited accompanied by a challan-cum-statement in Form No.26QE, 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 (2D) into the Reserve Bank of India or the State Bank of India or any authorised bank. ; (b) in rule 31 , after sub-rule (3C), the following sub-rule shall be inserted with effect from the 1st July, 2022, namely: (3D) Notwithstanding anything contained in sub-rule (1) or sub-rule (2) or sub-rule (3), every person, being a specified person referred to in section 194S and responsible for deduction of tax under that section shall furnish the certificate of deduction of tax at source in Form No.16E to the payee within fifteen days from the due date for furnishing the challan-cum-statement in Form No.26QE 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. ; (c) in rule 31A , with effect from the 1st day of July, 2022 (i) in sub-rule (4), after clause (xvi), the following clause shall be inserted, namely: (xvii) furnish particulars of amount deposited being prerequisite for releasing (a) winnings in terms of proviso to section 194B; (b) benefit or perquisite in terms of first proviso to sub-section (1) of section 194R; and (c) consideration in terms of proviso to sub-section (1) of section 194S along with the challan details such as BSR code of the bank, date of payment and challan serial number. (ii) after sub-rule (4C), the following sub-rule shall be inserted, namely, (4D) Notwithstanding anything contained in sub-rule (1) or sub-rule (2) or sub-rule (3) of sub-rule (4), every specified person referred to in section 194S and responsible for deduction of tax under that section shall furnish to the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) 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. 26QE 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. . 3. In the principal rules , in Appendix II, after Form No. 16D , the following Form shall be inserted with effect from the 1st July, 2022, namely, Form No. 16E [See rule 31(3D)] Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source Certificate No. Last updated on Name and address of the Deductor Name and address of the Deductee Permanent Account Number or Aadhaar Number of the Deductor Permanent Account Number or Aadhaar Number of the Deductee Financial Year of deduction Summary of Transaction(s) S. No. Unique Acknowledgement Number Amount paid/credited Date of payment/credited (dd/mm/yyyy) Amount of tax deducted and deposited in respect of the deductee Total (Rs.) DETAILS OF TAX DEPOSITED TO THE CREDIT OF THE CENTRAL GOVERNMENT FOR WHICH CREDIT IS TO BE GIVEN TO THE DEDUCTEE S. No. Amount of tax deposited in respect of deductee (Rs.) Challan Identification number (CIN) BSR Code of the Bank Branch Date on which tax deposited (dd/mm/yyyy) Challan Serial Number 1. 2. Total (Rs.) Verification I, .., son/daughter of . in the capacity of . (designation) do hereby certify that a sum of (Rs.)........ [Rs. . (in words)] has been deducted and deposited to the credit of the Central Government. I further certify that the information given above is true, complete and correct and is based on the books of account, documents, challan-cum-statement of deduction of tax, TDS deposited and other available records. Place (Signature of person responsible for deduction of tax) Date Full name: . 4. In the principal rules , in Appendix II, in form 26Q, with effect from the 1st day of July, 2022 (a) for the brackets, words, figures and letters [See sections 192A, 193, 194, 194A, 194B, 194BB, 194C, 194D, 194DA, 194EE, 194F, 194G, 194H, 194-I, 194J, 194K, 194LA, 194LBA, 194LBB, 194LBC, 194N, 194-O, 194P, 194Q, 197A, 206AA, 206AB and rule 31A] , the following brackets, words, figures and letters, shall be substituted, namely: [See sections 192A, 193, 194, 194A, 194B, 194BB, 194C, 194D, 194DA, 194EE, 194F, 194G, 194H, 194 -I, 194J, 194K, 194LA, 194LBA, 194LBB, 194LBC, 194N, 194-O, 194P, 194Q, 194R, 194S, 197A, 206AA, 206AB and rule 31A] ; (b) for the Annexure , the following Annexure shall be substituted, namely: ANNEXURE: DEDUCTEE/PAYEE WISE BREAK UP OF TDS ( Please use separate Annexure for each line-item in Table at Sl. No. 4 of main Form 26Q ) Details of amount paid/credited during the quarter ended (dd/mm/yyyy) and of tax deducted at source BSR Code of branch/Receipt Number of Form No. 24G Date on which challan deposited/Transfer voucher date (dd/mm/yyyy) Challan Serial Number / DDO Serial No. of Form No. 24G Amount as per Challan Total tax to be allocated among deductees/payees as in the vertical total of Col. 421 Total interest to be allocated among the deductees/payees mentioned below Name of the Deductor/Payer TAN Sl. No. Deductee /payee referen ce numbe r provide d by the deduct or/ payer, if availab le Deduct ee/ payee code (01- Comp any 02- Other than company) PAN of the deductee / payee Name of the deduct ee/ payee Section code (See Note 17) Date of payment or credit (dd/m m/ yyyy) Amount paidor credited Amount of cash withdrawal in excess of Rs. 1 crore as referred to in section 194N (in cases not covered by the first proviso to section 194N) Amount of cash withdrawal which is in excess of Rs. 20 lakh but does not exceed Rs 1 crore for cases covered by sub-clause (a) of clause (ii)of first proviso to section 194N Amount of cash withdrawal in excess of Rs. 1 crore for cases covered by sub- clause (b) of clause (ii) of first proviso to section 194N Total tax deducte d Total tax deposit ed Date of deduction (dd/mm/ yyyy) Rate at which deducted [412] [413] [414] [415] [416] [417] [418] [419] [419A] [419B] [419C] [420] [421] [422] [423] 1 2 3 Total Reason for non- deduction / lower deduction/ Higher Deduction/ Threshold/ Transporter etc. (See notes 1 to 16) Number of the certificate under section 197issued by the Assessing Officer for non- deduction / lower deduction If section code 94B-P is selected, then provide If section code 94R-P is selected, then provide If section code 94S-P is selected, then provide Amount of tax deposited BSR Code of bank Date of payment Challan serial number Amount of tax deposited BSR Code of bank Date of payment Challan serial number Amount of tax deposited BSR Code of bank Date of payment Challan serial number [424] [425] [426A] [426B] [426C] [426D] [427A] [427B] [427C] [427D] [428A] [428B] [428C] [428D] Verification I, ........................................................................... , hereby certify that all the particulars furnished above are correct and complete. Place: .. .. Signature of the person responsible for deducting tax at source Date: .. . .. Name and designation of the person responsible for deducting tax at source Notes: 1. Write A if lower deduction or no deduction is on account of a certificate under section 197. 2. Write B if no deduction is on account of declaration under section 197A other than the cases mentioned in sub-section (1F) of section 197A. 3. Write C if deduction is on higher rate under section 206AA on account of non-furnishing of PAN. 4. Write D if no deduction or lower deduction is on account of payment made to a person or class of person on account of notification issued under sub-section (5) of section 194A. 5. Write E if no deduction is on account of payment being made to a person referred to in Board Circular No. 3 of 2002 dated 28th June 2002 or Board Circular No. 11 of 2002 dated 22nd November 2002 or Board Circular No. 18/2017 dated 29th May 2017. 6. Write Y if no deduction is on account of payment below threshold limit specified in the Income-tax Act, 1961. 7. Write T if no deduction is on account of deductee or payee being transporter. PAN of deductee or payee is mandatory [section 194C(6)]. 8. Write Z if no deduction or lower deduction is on account of payment being notified under section 197A(1F). 9. Write M if no deduction or lower deduction is on account of notification issued under second proviso to section 194N. 10. Write N if no deduction or lower deduction is on account of payment made to a person referred to in the third proviso to section 194N or on account of notification issued under fourth proviso to section 194N. 11. Write O if no deduction is as per the provisions of sub-section (2A) of section 194LBA. 12. Write P if no deduction is on account of payment of dividend made to a business trust referred to in clause (d) of second proviso to section 194 or in view of any notification issued under clause (e) of the second proviso to section 194. 13. Write Q if no deduction in view of payment made to an entity referred to in clause (x) of sub -section (3) of section 194A. 14. Write S if no deduction is in view of the provisions of sub -section (5) of section 194Q. 15. Write 1 [ U ] if the deduction is on higher rate in view of section 206AB for non -filing of return of income. 16. List of section codes is as under: Section Nature of Payment Section Code 192A Payment of accumulated balance due to an employee 192A 193 Interest on securities 193 194 dividend 194 194A Interest other than interest on securities 94A 194B Winnings from lotteries and crossword puzzles 94B Proviso to section 194B Winnings from lotteries and crossword puzzles where consideration is made in kind or cash is not sufficient to meet the tax liability and tax has been paid before such winnings are released 94B-P 194BB Winnings from horse race 4BB 194C Payment of contractors and sub-contractors 94C 194D Insurance Commission 94D 194DA Payment in respect of life insurance policy 4DA 194EE Payments in respect of deposits under National Savings Schemes 4EE 194F Payments on account of repurchase of Units by Mutual Funds or UTIs 94F 194G Commission, prize etc., on sale of lottery tickets 94G 194H Commission or Brokerage 94H 194-I(a) Rent 4-IA 194-I (b) Rent 4-IB 194J(a) Fees for Technical Services (not being professional service), royalty for sale, distribution or exhibition of cinematographic films and call center (@2%) 94J-A 194J(b) Fee for professional service or royalty etc. (@10%) 94J-B 194K Income in respect of units 94K 194LA Payment of Compensation on acquisition of certain immovable property 4LA 194LBA(a) Certain income in the form of interest from units of a business trust to a resident unit holder 4BA1 194LBA(b) Certain income in the form of dividend from units of a business trust to a resident unit holder 4BA2 194LB Income in respect of units of investment fund LBB 194LBC Income in respect of investment in securitization trust LBC 194N Payment of certain amounts in cash 94N First proviso to section194N Payment of certain amounts in cash to non-filers 94N-F 194-O Payment of certain sums by e-commerce operator to e-commerce participant 94O 194P Deduction of tax in case of specified senior citizens 94P 194Q Payment of certain sums for purchase of goods 94Q 194R Benefits or perquisites of business or profession* 94R First Proviso to sub-section (1) of section 194R Benefits or perquisites of business or profession where such benefit is provided in kind or where part in cash is not sufficient to meet tax liability and tax required to be deducted is paid before such benefit is released* 94R-P 194S Payment of consideration for transfer of virtual digital asset by persons other than specified persons* 94S Proviso to sub- section(1) of section 194S Payment for transfer of virtual digital asset where payment is in kind or in exchange of another virtual digital asset and tax required to be deducted is paid before such payment is released* 94S-P * Note: In relation to section 194R and section 194S, the changes shall come into effect from 1st July, 2022. . 5. In the principal rules , in Appendix II , for Form 26QB , the following Form shall be substituted, namely, [F. No. 370142/23/2022-TPL] ANKIT JAIN, Under Secy. 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. 458(E) dated 17.06.2022. ************* NOTES:- 1. Corrected vide NOTIFICATION NO. 84/2022 dated 19-07-2022 before it was read as, T