Notification No. G.S.R. 14(E)
c.sub-rules (6), (7) and (8) shall be re-numbered as sub-rules (5), (6) and (7) respectively.
Under Rule 10DB which specifies the procedure for furnishing of report in respect of International Group:
a.for sub-rules (1) and (2), the following shall be substituted, namely:
i.Sub-rule (1): The income-tax authority for the purposes of section 286 shall be the Joint Commissioner as may be designated by the Director General of Income-tax (Risk Assessment).
ii.Sub-rule (2): The notification under sub-section (1) of section 286 shall be made in Form No. 3CEAC two months prior to the due date for furnishing of report as specified under sub-section (2) of said section.”;
iii.in sub-rule (3), the words and brackets “to the Director General of Income-tax (Risk Assessment)” shall be omitted
b.Sub-rule (5) has been substituted, namely: The information required to be conveyed under proviso to sub-section (4) of section 286 regarding the designated constituent entity shall be furnished in Form No. 3CEAE.
Save as otherwise provided in these rules, they will come into force on the date of their publication in the Official Gazette (January 06, 2020).
The Income-Tax (2nd Amendment) Rules, 2020
The Central Board of Direct Taxes (CBDT) on January 06, 2020, has published the Income-tax (2nd Amendment) Rules, 2020 to further amend the Income-tax Rules, 1962.
Rule 10DA has been amended which will be effective from April 01, 2020:
a.Marginal heading has been substituted, namely: “Maintenance and furnishing of information and document by certain person under section 92D”;
b.for sub-rules (2), (3), (4) and (5), the following sub-rules shall be substituted, namely:
i.Sub-rule (2): The information and document specified under sub-rule (1) shall be furnished to the Joint Commissioner referred to in sub-rule (1) of rule 10DB, in Form No. 3CEAA on or before the due date for furnishing the return of income as specified under sub-section (1) of section 139.
ii.Sub-rule (3): The constituent entity shall furnish Part A of Form No. 3CEAA even if the conditions specified under sub-rule (1) are not satisfied.
iii.Sub-rule (4): Where there are more than one constituent entities resident in India of an international group, the Form No. 3CEAA may be furnished by any one constituent entity, if:
(a)the international group has designated such entity for this purpose; and
(b)the information has been conveyed in Form No. 3CEAB to the Joint Commissioner referred to in sub-rule (1) of rule 10DB, in this behalf thirty days before the due date of furnishing the Form No. 3CEAA.
Under Rule 10DB which specifies the procedure for furnishing of report in respect of International Group:
a.for sub-rules (1) and (2), the following shall be substituted, namely:
i.Sub-rule (1): The income-tax authority for the purposes of section 286 shall be the Joint Commissioner as may be designated by the Director General of Income-tax (Risk Assessment).
ii.Sub-rule (2): The notification under sub-section (1) of section 286 shall be made in Form No. 3CEAC two months prior to the due date for furnishing of report as specified under sub-section (2) of said section.”;
iii.in sub-rule (3), the words and brackets “to the Director General of Income-tax (Risk Assessment)” shall be omitted
b.Sub-rule (5) has been substituted, namely: The information required to be conveyed under proviso to sub-section (4) of section 286 regarding the designated constituent entity shall be furnished in Form No. 3CEAE.
Save as otherwise provided in these rules, they will come into force on the date of their publication in the Official Gazette (January 06, 2020).
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