Document text
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3,
SUB- SECTION (i)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
[CENTRAL BOARD OF DIRECT TAXES]
NOTIFICATION
New Delhi, the 3rd day of April, 2018
Income-tax
G.S.R. 332 (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. (1) These rules may be called the Income-tax (Second Amendment) Rules, 2018.
(2) They shall be deemed to have come into force with effect from the 1st day of April, 2018.
2.
In the Income-tax rules, 1962 (hereinafter referred to as the principal rules), in rule 12,−
(a)
in sub-rule (1),-
(I)
for the figures “2017”, the figures “2018” shall be substituted;
(II) in clause (a),―
(i) for the words “an individual”, the words “an individual who is a
resident other than not ordinarily resident and” shall be substituted;
(ii) in sub-clause (ii), after the words “brought forward loss”, the words
“or loss to be carried forward” shall be inserted;
(iii) in the proviso, for item (I), the following shall be substituted,
namely:-
“(I) has assets (including financial interest in any entity) located outside
India;
(IA) has signing authority in any account located outside India;
(IB) has income from any source outside India;
(IC) has income to be apportioned in accordance with provisions of
section 5A;”;
(III) in clause (c), for the words “derived from a proprietory”, the words
“under the head” shall be substituted;
(IV) in clause (d), for the words “deriving income from a proprietory”, the
words “having income under the head” shall be substituted;
(b)
in sub-rule (5), for the figures “2016”, the figures “2017” shall be substituted.
3.
In the principal rules, in Appendix II, for Forms “Forms 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 be respectively substituted, namely:-
[Notification No.16/2018/ F.No.370142/1/2018-TPL]
(Dr. T.S. Mapwal)
Under Secretary to the Government of India
Note.- The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3,
Sub-section (ii) vide notification number S.O.969(E), dated the 26th March, 1962 and last amended by
the Income-tax (First Amendment) Rules, 2018, vide notification number GSR 176 (E), dated 19th
February, 2018.
Explanatory Memorandum: By giving retrospective effect to the amendment rules, no one will be
adversely affected and the retrospectivity is being given to the present rules as these are applicable for
the assessment year commencing on the 1st day of April, 2018 i.e. Assessment Year 2018-19.
