Income-tax (Second Amendment) Rules, 2019 - 32/2019 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 32/2019 New Delhi, the 1 st April, 2019 Income-tax G.S.R. 279(E).- In exercise of the powers conferred by section 139 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 (Second Amendment) Rules, 2019. (2) They shall come into force with effect from the 1 st day of April, 2019. 2. In the Income-tax rules, 1962 (hereinafter referred to as the principal rules), in rule 12 , (a) in sub-rule (1),- (I) in the opening portion, for the figures 2018 , the figures 2019 shall be substituted; (II) in clause (a), in the proviso, after item (IC), the following items shall be inserted, namely:- (ID) has claimed deduction under section 57, other than deduction claimed under clause (iia) thereof; (IE) is a director in any company; (IF) has held any unlisted equity share at any time during the previous year; (IG) is assessable for the whole or any part of the income on which tax has been deducted at source in the hands of a person other than the assesse; ; (III) in clause (ca),- (i) in the opening portion, for the words a Hindu undivided family or a firm, other than a limited liability partnership firm, , the words a Hindu undivided family, who is a resident other than not ordinarily resident, or a firm, other than limited liability partnership firm, which is a resident shall be substituted; (ii) in the proviso, for item (I), the following items shall be substituted, namely:- (I) has assets (including financial interest in any entity) located outside India; (IA) has signing authority in any account located outside India; (IB) has income from any source outside India; (IC) has income to be apportioned in accordance with provisions of section 5A; (ID) is a director in any company; (IE) has held any unlisted equity share at any time during the previous year; (IF) has total income, exceeding fifty lakh rupees; (IG) owns more than one house property, the income of which is chargeable under the head Income from house property ; (IH) has any brought forward loss or loss to be carried forward under any head of income; (IJ) is assessable for the whole or any part of the income on which tax has been deducted at source in the hands of a person other than the assesse; ; (IV) in clause (g), the words, brackets, figures and letters or sub-section (4E) or sub-section (4F) shall be omitted; (b) in sub-rule (3), in the Table, in column (i), against the entries at serial number 1, in column (iii), for item (b), the following item shall be substituted, namely:- (b) Where total income assessable under the Act during the previous year of a person, being an individual of the age of eighty years or more at any time during the previous year, and who furnishes the return in Form number SAHAJ (ITR-1) or Form number SUGAM (ITR-4). ; (c) in sub-rule (5), for the figures 2017 , the figures 2018 shall be substituted. 3. In the principal rules , in Appendix II , for Forms Form Sahaj (ITR-1) , Form ITR-2 , Form ITR-3 , Form Sugam (ITR-4) , Form ITR-5 , Form ITR-6 , Form ITR-7 and Form ITR-V , the following Forms shall, respectively, be substituted, namely;- [Notification No. 32/2019/ F.No.370142/1/2019-TPL] SAURABH GUPTA, 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 last amended by the Income-tax (First Amendment) Rules, 2019, vide notification number G.S.R. No. 76(E), dated 30th January, 2019.