INCOME-TAX (THIRD AMENDMENT) RULES, 2013 AMENDMENT IN RULE 12 & SUBSTITUTION OF FORMS SAHAJ (ITR-1), ITR-2, ITR-3, SUGAM (ITR-4S), ITR-4 AND ITR-V
NOTIFICATION NO. 34/2013 [F.NO.142/5/2013-TPL]/SO 1111(E), DATED 1-5-2013
In exercise of the powers conferred by 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 (3rd Amendment) Rules, 2013.
(2) They shall be deemed to have come into force with effect from the 1st day of April, 2013.
2. In the Income-tax Rules, 1962 (hereinafter referred to as the said rules), in rule 12,”
(a) in sub-rule (1),-
(A) for the figures 2012³, the figures 2013³ shall be substituted;
(B) in item (a),”
(i) in sub-item (iii), after the words income from race horses, the words and does not have any loss under the head shall be inserted;
(ii) for the proviso, the following proviso shall be substituted, namely:”
Provided that the provisions of this clause shall not apply to a person who,-
(I) is a resident, other than not ordinarily resident in India within the meaning of sub-section (6) of section 6 and has,”
(i) assets (including financial interest in any entity) located outside India; or
(ii) signing authority in any account located outside India;
(II) has claimed any relief of tax under sections 90 or 90A or deduction of tax under section 91; or
(III) has income not chargeable to tax, exceeding five thousand rupees.;
(C) in clause (ca), for the proviso, the following proviso shall be substituted, namely:”
Provided that the provisions of this clause shall not apply to a person who,-
(I) is a resident, other than not ordinarily resident in India within the meaning of sub-section (6) of section 6 and has,”
(i) assets (including financial interest in any entity) located outside India; or
(ii) signing authority in any account located outside India;
(II) has claimed any relief of tax under sections 90 or 90A or deduction of tax under section 91; or
(III) has income not chargeable to tax, exceeding five thousand rupees.;
(b) in sub-rule(2), the following proviso shall be inserted, namely:-
Provided that where an assessee is required to furnish a report of audit under sections 44AB, 92E or 115JB of the Act, he shall furnish the same electronically.;
(c) in sub-rule (3), in the proviso,-
(A) in clause (a),”
(i) for the words an individual or a hindu undivided family, the words a person, other than a company and a person required to furnish the return in Form ITR-7³ shall be substituted;
(ii) for the words ten lakh rupees the words five lakh rupees shall be substituted;
(iii) for the figures 2012-13³, the figures 2013-14³ shall be substituted;
(B) after clause (aaa), the following clause shall be inserted, namely:-
(aab) a person claiming any relief of tax under section 90 or 90A or deduction of tax under section 91 of the Act, shall furnish the return for assessment year 2013-14 and subsequentassessment years in the manner specified in clause (ii) or clause (iii);
(C) in clause (b), after the words, brackets and figure in clause (i), the words, brackets and figures or clause (ii) or clause (iii) shall be inserted.
(d) in sub-rule 4, after the words, brackets and figures of sub-rule (3), the words and figures and the report of audit in the manner specified in proviso to sub-rule (2) shall be inserted.
(e) in sub-rule (5), for the figures 2011³, the figures 2012³ shall be substituted.
3. In the said rules, in Appendix-II, for Forms SAHAJ (ITR-1), ITR-2, ITR-3, SUGAM (ITR-4S), ITR-4 and ITR-V, the Forms SAHAJ (ITR-1), ITR-2, ITR-3, SUGAM (ITR-4S), ITR-4 and ITR-V shall be substituted.
