The Income-tax (16th Amendment) Rules, 2020

The Central Board of Direct Taxes has issued the the Income-tax (16th Amendment) Rules, 2020 on 3rd July, 2020. As per the amendment, the tax deductors while filing quarterly statements under Rule 31A to the Director General of Income-tax (Systems) shall, from the 1st day of July, 2020, also furnish:-

  • furnish particulars of amount paid or credited on which tax was not deducted or deducted at lower rate in view of the notification issued under second proviso to section 194N or in view of the exemption provided in third proviso to section 194N or in view of the notification issued under fourth proviso to section 194N
  • furnish particulars of amount paid or credited on which tax was not deducted or deducted at lower rate in view of the notification issued under sub-section (5) of section 194A.
  • furnish particulars of amount paid or credited on which tax was not deducted under sub-section (2A) of section 194LBA.
  • furnish particulars of amount paid or credited on which tax was not deducted in view of clause (a) or clause (b) of sub-section (1D) of section 197A.
  • furnish particulars of amount paid or credited on which tax was not deducted in view of the exemption provided to persons referred to in Board Circular No. 3 of 2002 dated 28th June 2002 or Board Circular No. 11 of 2002 dated 22nd November 2002 or Board Circular No. 18 of 2017 dated 29th May 2017.”

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