INCOME-TAX (FOURTH AMENDMENT) RULES, 2007
NOTIFICATION
NO.169/2007, DATED 14-5-2007
In exercise of the
powers conferred by section 295 of the Income Tax Act, 1961 (43 of 1961)
(hereinafter referred to as the Act), 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 (Fourth Amendment) Rules, 2007.
(2) They shall come into force on the 14th day of May, 2007.
2. In the Income-tax Rules, 1962,-
(a)
for rule 12, the following rule shall be substituted, namely:-
‘Return of income and return of fringe benefits
12.(1) The return
of income required to be furnished under sub-section (1) or sub-section (3) or sub-section
(4A) or sub-section (4B) or sub-section (4C) or sub-section (4D) of section 139
or clause (i) of sub-section (1) of section 142 or sub-section (1) of section 148 or section 153A or the return of fringe benefits required to be
furnished under sub-section (1) or sub-section (2) of section 115WD relating to
the assessment year commencing on the 1st day of April, 2007 or any
subsequent assessment year shall, -
(a)
in the case of a person being an individual
where the total income includes income chargeable to income-tax under the head “salaries” or income in the
nature of family pension as defined in the Explanation to clause (iia) of
section 57 but does not include any other
income except income by way of interest
chargeable to income-tax under the head
“income from other sources”, be in Form No. ITR-1 and be verified in the manner
indicated therein;
(b)
in the case of a person being an individual [not
being an individual to whom clause (a) applies] or a Hindu Undivided family
where the total income does not include any income chargeable to
income-tax under the head “Profits or
gains of business or profession”, be
in Form No. ITR-2 and be verified in the manner indicated therein;
(c)
in the case of a person being an individual or a
Hindu Undivided family who is a partner in a firm and where income chargeable
to income-tax under the head “Profits or gains of business or profession” does
not include any income except the income by way of any interest, salary, bonus,
commission or remuneration, by whatever name called, due to, or received by him
from such firm, be in Form No. ITR-3 and be verified in the manner indicated
therein;
(d)
in the case of a person being an individual or a
Hindu Undivided family other than the individual or Hindu Undivided family referred to in clause (a) or clause (b)
or clause (c) and deriving income from a proprietory business or profession, be
in Form No. ITR-4 and be verified in the manner indicated therein;
(e)
in the case of a person not being an individual or a Hindu Undivided
family or a company or a person to which clause (g) applies, be in Form No.
ITR-5 and be verified in the manner indicated therein;
(f)
in the
case of a company not being a company to which clause (g) applies, be in Form
No. ITR-6 and be verified in the manner indicated therein;
(g)
In the case of a person including a company
whether or not registered under section 25 of the Companies Act, 1956 (1 of
1956), required to file a return under sub-section (4A) or sub-section (4B) or
sub-section (4C) or sub-section (4D) of section 139, be in Form No. ITR-7 and
be verified in the manner indicated therein;
(h)
in the case of a person who is not required to
furnish the return of income but is required to furnish the return of fringe
benefits, be in Form No. ITR-8 and be verified in the manner indicated therein.
(2) The return of income and return of
fringe benefits required to be furnished in Form No.ITR-1 or Form No ITR-.2 or
Form No. ITR-3 or Form No.ITR-4 or Form No.ITR-5 or Form No.ITR-6 or Form
No.ITR-8 shall not be accompanied by a statement showing the computation of the
tax payable on the basis of the return, or proof of the tax, if any, claimed to
have been deducted or collected at
source or the advance tax or tax on self-assessment, if any, claimed to have
been paid or any document or copy of any account or Form or report of audit
required to be attached with the return of income or the return of fringe
benefits under any of the provisions of the Act.
(3)
The return of income or return of fringe benefits referred to in sub-rule (1)
may be furnished in any of the
following manners, namely:-
(i) furnishing the
return in a paper form;
(ii) furnishing the return electronically under digital
signature;
(iii) transmitting the data in the return electronically and
thereafter submitting the verification
of the return in Form
ITR-V;
(iv) furnishing a bar-coded return in a paper form:
Provided
that -
(a)
a firm required to furnish the return in Form ITR-5 and to whom provisions of
section 44AB are applicable or a company required to furnish the return in Form
ITR-6 shall furnish the return in the manner specified in clause (ii) or
clause (iii);
(b)
a person required to furnish the return in Form ITR-7 shall furnish the return in the manner specified
in clause (i).
(4)
The Director-General of Income-tax (Systems) shall specify the procedures,
formats and standards for ensuring secure capture and transmission of data and
shall also be responsible for evolving and implementing appropriate security,
archival and retrieval policies in relation to furnishing the returns in the
manners specified in clauses (ii),
(iii) and (iv) of sub-rule (3).
(5)
Where a return of income or return of fringe benefits, relates to the
assessment year commencing on the 1st day of April, 2006 or any
earlier assessment year, it shall be furnished in the appropriate form as
applicable in that assessment year.’
(b) in appendix-II, for Form No. 1, Form No.
2, Form No. 2D, Form No. 2F, Form No. 3, Form No. 3A
and Form No.3B, the following forms shall be substituted, namely:-
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NEW INCOME-TAX RETURN FORMS (For Assessment Year 2007-08) |
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Form No. |
Heading
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Instructions |
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ITR 1 |
For
Individuals having Income from Salary/ Pension/ Family pension & Interest |
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For Individuals and HUFs not having Income from
Business or Profession |
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For Individuals/HUFs being partners in firms and not
carrying out business or profession under any proprietorship |
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For individuals & HUFs having income from a proprietory business
or profession |
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For firms, AOPs and BOIs |
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For Companies other than companies claiming exemption
under section 11 |
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For persons including companies required to furnish
return under section 139(4A) or section 139(4B) or section 139(4C) or section
139(4D) |
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Return for Fringe Benefits |
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Where the data of the Return of Income/Fringe Benefits in Form ITR-1,
ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 & ITR-8 transmitted electronically
without digital signature |
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Acknowledgement for e-Return and non e-Return |
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[F.No.142/3/2007-TPL]