MINISTRY OF FINANCE

(Department of Revenue)

 (CENTRAL BOARD OF DIRECT TAXES)

 NOTIFICATION

 New Delhi, the 15th October, 2024

 G.S.R. 639(E).— In exercise of the powers conferred by section 295 read with section 192 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.    (1) These rules may be called the Income-tax (Eighth Amendment) Rules, 2024.

 

       (2) They shall come into force on the date of their publication in the Official Gazette.

 

2.   In the Income-tax Rules, 1962,––  

 

a.  in rule 21AA, –

i.   in the marginal heading, for the word, figures and brackets “section 89(1)”, the word and figures “section 89” shall be substituted;

 

ii.  for the words, brackets and figures “sub-section (1) of section 89”, the word and figures “section 89” shall be substituted;

b.  for rule 26B, the following rule shall be substituted, namely :–

“26B. Statement of particulars of income under heads of income other than "Salaries" or details of tax deducted at source or tax collected at source.–– The assessee may submit to the person responsible for making payment under sub-section (1) of section 192, the details of ––

a.   any income chargeable under any head of income other than ‘Salaries’ received in the same financial year; or

b.  any tax deducted at source or tax collected at source under the provisions of Part B or Part BB of Chapter XVII, for the same financial year; or  

c.  loss, if any, under the head “Income from house property” in the same financial year,

 

in Form No. 12BAA, for the purpose of computing the tax deduction at source under sub-section (1) of  section 192.”;

 

c.  in Appendix II,––

 

A.  in Form No. 10E, –

i.   in the heading, for the word, figures and brackets “section 89(1)”, the word and figures “section 89” shall be substituted;

ii.  in Annexure I, against serial number 8, for the word, figures and brackets “section 89(1)”, the word and figures “section 89” shall be substituted;

iii.  in Annexure II, against serial number 12, for the word, figures and brackets “section 89(1)”, the word and figures “section 89” shall be substituted;

iv.  in Annexure IIA, against serial number 12, for the word, figures and brackets “section 89(1)”, the word and figures “section 89” shall be substituted;

v.  in Annexure III, against serial number 12, for the word, figures and brackets “section 89(1)”, the word and figures “section 89” shall be substituted;

vi.  in Annexure IV, against serial number 12, for the word, figures and brackets “section 89(1)”, the word and figures “section 89” shall be substituted;

 

B.  after Form No. 12BA, the following Form shall be inserted, namely –

 

“FORM NO. 12BAA

[See rule 26B]

Statement showing particulars for the purposes of sub-section (2B) of section 192

 

1.  Name and address of the employee:

2.  [Permanent Account Number or Aadhaar Number] of the employee:

3.   Financial year:

DETAILS OF PARTICULARS FOR THE PURPOSES OF SUB-SECTION (2B) OF SECTION 192

Sl. No.

Particulars

(1)

(2)

1.

Details of other Tax Deducted at Source –

 

Section under which tax deducted at source   

 

Name of deductor

Address of

Deductor

TAN of deductor

Amount of tax deducted (Rs.)

Amount of income received/ credited

Any other relevant details

(a)

(b)

(c)

(d)

(e)

(f)

(g)

 

 

 

 

 

 

 

 

 

6  THE GAZETTE OF INDIA : EXTRAORDINARY    [PART II—SEC. 3(i)]

 

 

2.

Details of Tax Collected at Source –

 

 

 

 

 

Section under which tax

collected at source   

 

Name of collector

Address of collector  

TAN of

collector  

Amount of

tax collected (Rs.)

Any other relevant details

 

(a)

(b)

(c)

(d)

(e)

(f)

 

 

 

 

 

 

 

 

 

 

 

3.

Loss under the head “Income from house property”  

 

 

 

 

Amount (Rs.)

 

 

Details

 

 

(a)

 

 

(b)

 

 

Verification

I, .............. son/daughter of ...................... do hereby certify that the information given above is complete and correct.  

 

Place ..............                                          ............................................               

Date ..............                                                                                          

 (Signature of the employee)  

 Full Name:………………”;

Designation ..............                                                                               

 

C.  in Form No. 16, in Part B (Annexure-I), in the table, for the row numbered 19 and the entries relating thereto, the following shall be substituted, namely :––

 

“19.

Less: Tax deducted at source as per Form No. 12BAA submitted under provisions of section 192(2B)

 

 

Rs.

20.

Less: Tax collected at source as per Form No. 12BAA submitted under provisions of section 192(2B)

 

 

Rs.

21.

Net tax payable ( 17-18-19-20)

 

 

Rs.”;

 

D.  in Form No. 24Q, in Annexure II, in the table,––

 

i.   in column (388), the words and brackets “or deductor(s)” shall be omitted;

ii.  after column (388), the following column shall be inserted, namely:––

 

“Amount reported as per section 192(2B), of other tax deducted  at source or tax collected at  source, other than (388)   

(388A)”;  

 

 

(iii)

incolumn(389)

I.   after the word “deducted”, the word “/collected” shall be inserted;

II. after the figures “388”, the figures and letter “+388A” shall be inserted.

 

 [No. 112/2024/F. No. 370142/19/2024-TPL]  

KHUSHBOO LATHER, 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 were last amended vide notification number G.S.R 638 (E), dated the 15th October, 2024.