CBDT Notifies Rules For Claiming Deduction Under Section 10A(1B)(b) Of The Income Tax Act 1961

Vide Notification Dated 29th December 2021, the CBDT has notified rules for claiming deduction under Section 10A(1B)(b) of the Income Tax Act 1961.

Income Tax (35th Amendment) Rules 2021 have been notified for this purpose.

The amendment reads as under:

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 (Particulars to be furnished under clause (b) of sub-section (1B) of section 10A of the Income-tax Act 1961)”

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