In this post, we will see the latest notification from the Department of Revenue, Central Board of Direct Tax, making the rules further to amend the Income Tax Act, 1961. These rules will be called the Income-tax (19th Amendment) Rules, 2022. These rules will come into effect on 1st July 2022.
Below, you can see the complete official notification. For the complete list, visit – Notification of CBDT
Below, you can see the complete official notification.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
New Delhi, the 21st June 2022
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:-
- 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.
- 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––