CBDT notifies Income-tax (4th Amendment) Rules, 2021.

The Central Board of Direct Taxes on 12th March 2021 has notified the Income-tax (4th Amendment) Rules, 2021 to further amend the Income-tax Rules, 1962.

The amendment brings in new rule 114E (5A) which deals with pre-filing the return of income in which the for the purposes of pre-filling the return of income, a statement of financial transaction under subsection (1) of section 285BA of the Act containing information relating to capital gains on transfer of listed securities or units of Mutual Funds, dividend income, and interest income shall be furnished by the recognized stock exchanges, companies, non-banking company, etc in such form at such frequency, and in such manner, as may be specified by the Principal Director General of Income Tax (Systems) or the Director-General of Income Tax (Systems), as the case may be, with the approval of the Board.