CBDT : Income-tax (12th Amendment) Rules, 2020

CBDT : Income-tax (12th Amendment) Rules, 2020

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 29th May, 2020
INCOME-TAX

G.S.R. 338(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 the Income-tax Rules, 1962, namely:

1. Short title and commencement.-

(1) These rules may be called the Income-tax (12th Amendment) Rules, 2020.
(2) They shall come into force with effect from the date of publication in the Official Gazette.

2. In the Income-tax Rules, 1962,

(a) in rule 12, in sub-rule (1)

(I) in clause (a), in the proviso,
(i) in item (V), the word “or” shall be inserted at the end;
(ii) items (VII) and (VIII) shall be omitted;
(II) in clause (ca), in the proviso, item (VI) shall be omitted.

(b) in Appendix II, for Form “Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 and Form ITR-V”, the following Forms shall, respectively, be substituted, namely:

[Notification No. 31/2020/F. No. 370142/32/2019-TPL]
ANKUR GOYAL, Under Secy

Form No.:ITR-1 SAHAJ
For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc), and agricultural income upto Rs. 5000

Form No.:ITR-2
For Individuals and HUFs not having income from profits and gains of business or profession

Form No.:ITR-3
For individuals and HUFs having income from profits and gains of business or profession

Form No.:ITR-4 Sugam
For Individuals, HUFs and Firms (other than LLP) being a resident having total income upto Rs.50 lakh and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE

Form No.:ITR-5
For persons other than- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7

Form No.:ITR-6
For Companies other than companies claiming exemption under section 11

Form No.:ITR-7
For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) only

Form No.:ITR-V
Where the data of the Return of Income in Form ITR-1 (SAHAJ), ITR-2, ITR-3, ITR-4(SUGAM), ITR-5, ITR-7 filed but NOT verified electronically

Form No.:Acknowledgement
Where the data of the Return of Income in Form ITR-1 (SAHAJ), ITR-2, ITR-3, ITR4(SUGAM), ITR-5, ITR-6, ITR-7 filed and verified

For More Details: https://www.incometaxindia.gov.in/Pages/downloads/income-tax-return.aspx