New Rule 16DD inserted in the income-tax Rules

New Rule 16DD inserted in the income-tax Rules (Form of particulars to be furnished along with return of income for claiming deduction under clause (b) of sub-section (1B) of section 10A) –NOTIFICATION

G.S.R. 903(E).— In exercise of the powers conferred by sub-section (5) of section 10A 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. Short title and commencement. –– (1) These rules may be called the Income-tax (35th Amendment) Rules, 2021.
   (2) They shall be deemed to have come into force from the 29th day of July, 2021.
   
2. In the Income-tax Rules, 1962 (hereinafter referred to as principal rules), after rule 16D, the following rule shall be inserted, namely:––
   “16DD. Form of particulars to be furnished along with return of income for claiming deduction under clause (b) of sub-section (1B) of section 10A.–The particulars, which are required to be furnished by the assessee along with the return of income under clause (b) of sub-section (1B) of section 10A shall be in Form No. 56FF.”

3. In the principal rules, in rule 130,–
   (a) in sub-rule (1), the figures and letters “16DD” shall be omitted;
   (b) in sub-rule (2), the figures and letters “56FF” shall be omitted.
   
4. In the principal rules, in Appendix II, after Form No. 56F, the following Form shall be inserted, namely:–

“Form No. 56FF
[See rule 16DD]
Particulars to be furnished under clause (b) of sub-section (1B) of section 10A of the Income-tax Act, 1961

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