Application for credit of the tax deduction at source (TDS)

Insertion of Rule 134 to the Income tax Rules 1962 – “Application under sub-section (20) of section 155 regarding credit of tax deduction at source (TDS) ” – NOTIFICATION

G.S.R. 637(E).—In exercise of the powers conferred by sub-section (20) of section 155 read with section 295 of the Income-tax Act, 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 (Twentieth Amendment) Rules, 2023.
   (2) They shall come into force from the 1st day of October, 2023.
   
2. In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), after rule 133, the following rule shall be inserted, namely––
   
   “134. Application under sub-section (20) of section 155 regarding credit of tax deduction at source. —
   
   (1) The application required to be made by the assessee under sub-section (20) of section 155 shall be in Form No. 71.
   
   (2) Form No. 71 shall be furnished to the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) or the person authorised by the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems).
   
   (3) Form No. 71, shall be furnished electronically, —
   (i) under digital signature, if the return of income is required to be furnished under digital signature;
   (ii) through electronic verification code in a case not covered under clause (i).
   
   (4) The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be, shall specify the procedures for furnishing Form No. 71 and shall also be responsible for formulating and evolving appropriate security, archival and retrieval policies in relation to the form so furnished.
   
   (5) The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be, or any person authorised by the Principal Director General of Income tax (Systems) or the Director General of Income-tax (Systems) shall forward Form No. 71 to the Assessing Officer.”.
   
3. In the principal rules, after Form No. 70, the following Form shall be inserted, namely:-

“FORM NO. 71
[See rule 134]
[e-Form]
Application under sub-section (20) of section 155 for credit of tax deduction at source (TDS)

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