INCOME-TAX (SEVENTH AMENDMENT) RULES, 2011 - AMENDMENT IN RULE 114 AND SUBSTITUTION OF FORM NO. 49A
NOTIFICATION NO. 56/2011 [F.NO. 133/48/2011-SO(TPL)], DATED 17-10-2011
In exercise of the powers conferred by 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.(1) These rules may be called the Income-tax (7th Amendment) Rules, 2011.
(2) They shall come into force on the 1st day of November, 2011.
2. In the Income-tax Rules, 1962,-
(A) in rule 114,-
(a) in sub-rule (1), after the words, figures and letter "Form 49A", the words, figures and letters, "or 49AA , as the case may be" shall be inserted:
(b) in sub-rule (3),—
(i) for the words "accounting year" wherever they occur, the words "financial year" shall be substituted;
(ii) after item (iii) the following item shall be inserted, namely:—
"(iv) in the case of a person who is entitled to receive any sum or income or amount , on which tax is deductible under Chapter XVII-B in any financial year, before the end of such financial year.";
(c) in sub-rule (4), for the words "Table below shall be accompanied by documents mentioned in Column 3" the words "Table below shall be filed in Forms mentioned in Column 3 and shall be accompanied by the documents mentioned in Column 4" shall be inserted ;