New Rule 6ABBB inserted under Income-tax

New Rule 6ABBB inserted under Income-tax

G.S.R. 579(E).––In exercise of the powers conferred by proviso to clause (a) of sub-section (2) and sub-section (4) of section 35D 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 (Fourteenth Amendment) Rules, 2023.
   (2) They shall come into force with effect from the 1st day of April, 2024.
   
2. In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), after rule 6ABBA, the following rule shall be inserted, namely:––
   
   “6ABBB. Form of statement to be furnished regarding preliminary expenses incurred under section 35D.–
   
   (1) The statement containing particulars of expenditure required to be furnished under proviso to clause (a) of subsection (2) of section 35D by the assessee shall be in Form No. 3AF for each previous year.
   (2) Form No. 3AF shall be furnished one month prior to the due date for furnishing the return of income as specified under sub-section (1) of section 139.
   (3) Form No. 3AF shall be furnished to 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 Director General of Income-tax (Systems).
   (4) Form No. 3AF, 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).
   (5) The Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems), as the case may be, shall specify the procedures for furnishing Form No. 3AF and shall also be responsible for formulating and evolving appropriate security, archival and retrieval policies in relation to the form so furnished.
   (6) The Principal Director General of Income-tax (Systems) or 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 Director General of Income-tax (Systems) shall forward Form No. 3AF to the Assessing Officer.”.
3. In the principal rules, in Appendix II, for Form No. 3AE, the following Forms shall be substituted, namely:–

“FORM NO. 3AE
[See rule 6AB]
(e-Form)
Audit Report under section * 35D(4)/35E(6) of the Income-tax Act, 1961

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