Insertion to rule 12 – Return of Income and return of fringe benefits and substitution of ITR forms in principal rules of Income tax rules,1962.

New Delhi, the 31st March, 2021

G.S.R. 242(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 Incometax Rules, 1962, namely:-

1. 1. Short title and commencement.—(1) These rules may be called the Income-tax (7th Amendment) Rules, 2021.
   1. (2) They shall come into force with effect from the 1st day of April, 2021.
2. 2. In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), in rule 12, in sub-rule (1), ––
   1. (a) in the opening portion, for the figure “2020”, the figure “2021” shall be substituted;
   2. (b) in clause (a), in the proviso,––
      1. (i) in sub-clause (v), the word “or” shall be omitted;
      2. (ii) after sub-clause (vi), the following sub-clauses shall be inserted, namely:––
      3. “(VII) is a person in whose case tax has been deducted under section 194N; or
      4. (VIII) is a person in whose case payment or deduction of tax has been deferred under sub-section (2) of section 191 or sub-section (1C) of section 192;”;
3. (c) in clause (ca), in the proviso, after sub-clause (V), the following sub-clause shall be inserted, namely:—
   1. “(VI) has income of the nature specified in clause (vi) of sub-section (2) of section 17 on which tax is payable or deductible, as the case may be, under sub-section (2) of section 191 or sub-section (1C) of section 192;.”

3. In the principal rules, in Appendix-II, for Forms SAHAJ ITR-1, ITR-2, ITR-3, SUGAM ITR-4, ITR-5, ITR-6, ITR-7 and ITR-V the following Forms shall, respectively, be substituted, namely:—

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