Income Tax Rule 30 D effect from the 1st July, 2022 : Income-Tax (19th Amendment) Rules, 2022

Income Tax Rule 30 D effect from the 1st July, 2022 : Income-Tax (19th Amendment) Rules, 2022

MINISTRY OF FINANCE

(Department of Revenue)

(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION

New Delhi, the 21st June, 2022

INCOME-TAX

G.S.R. 463(E).–– In exercise of the powers conferred by section 295 read with sections 194B, 194-IA, 194R, 194S and section 206AB 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:-

Income Tax Form No. 16 D

1. Short title and commencement.–– (1) These rules may be called the Income-tax (19th Amendment) Rules, 2022.

(2) Save as otherwise provided in these rules, they shall come into force from the date of their publication in the Official Gazette.

2. In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules),

(a) in rule 30, with effect from the 1st July, 2022––

(i) after sub-rule (2C), the following sub-rule shall be inserted, namely:––

“(2D) Notwithstanding anything contained in sub-rule (1) or sub-rule (2), any sum deducted under section 194S by a specified person referred to in that section shall be paid to the credit of the Central Government within a period of thirty days from the end of the month in which the deduction is made and shall be accompanied by a challan-cum-statement in Form No. 26QE.”;

(ii) after sub-rule (6C), the following sub-rule shall be inserted, namely:––

“(6D) Where tax deducted is to be deposited accompanied by a challan-cum-statement in Form No.26QE, the amount  of  tax  so  deducted  shall  be  deposited  to  the  credit  of  the  Central  Government  by  remitting  it electronically within the time specified in sub-rule (2D) into the Reserve Bank of India or the State Bank of India or any authorised bank.”;

(b) in rule 31, after sub-rule (3C), the following sub-rule shall be inserted with effect from the 1st July, 2022, namely:–

“(3D) Notwithstanding anything contained in sub-rule (1) or sub-rule (2) or sub-rule (3), every person, being a specified person referred to in section 194S and responsible for deduction of tax under that section shall furnish the certificate of deduction of tax at source in Form No.16E to the payee within fifteen days from the due date for furnishing the challan-cum-statement in Form No.26QE under rule 31A after generating and downloading the same from the web portal specified by the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) or the person authorised by him.”;

(c) in rule 31A, with effect from the 1st day of July, 2022––

(i) in sub-rule (4), after clause (xvi), the following clause shall be inserted, namely:–– “(xvii) furnish particulars of amount deposited being prerequisite for releasing––

(a) winnings in terms of proviso to section 194B;

(b) benefit or perquisite in terms of first proviso to sub-section (1) of section 194R; and

(c) consideration in terms of proviso to sub-section (1) of section 194S along with the challan details such as BSR code of the bank, date of payment and challan serial number.”

(ii) after sub-rule (4C), the following sub-rule shall be inserted, namely,––

“(4D) Notwithstanding anything contained in sub-rule (1) or sub-rule (2) or sub-rule (3) of sub-rule (4), every specified person referred to in section 194S and responsible for deduction of tax under that section shall furnish to the Principal Director General of Income-tax (Systems) or 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), a challan-cum-statement in Form No. 26QE electronically in accordance with the procedures, formats and standards specified under sub-rule (5) within thirty days from the end of the month in which the deduction is made.”.

3. In the principal rules, in Appendix II, after Form No. 16D, the following Form shall be inserted with effect from the 1st July, 2022, namely,––

“Form

No.

16E

[See

rule
31(3D)]

Certificate

under

section

203 of the Income-tax Act, 1961 for tax deducted at
source

Certificate No.

Last updated on

Name

and
address of the Deductor

Name

and
address of the Deductee

Permanent Account
Number

or Aadhaar Number of the Deductor

Permanent Account
Number

or Aadhaar Number of the Deductee

Financial Year

of

deduction

Summary

of Transaction(s)

S.

No.

Unique

Acknowledgement

Number

Amount paid/credited

Date

of

payment/credited

(dd/mm/yyyy)

Amount

of tax deducted and deposited in respect of the
deductee

Total

(Rs.)

DETAILS


OF TAX DEPOSITED TO THE CREDIT OF THE CENTRAL
GOVERNMENT FOR WHICH CREDIT IS TO BE GIVEN TO THE
DEDUCTEE

S.

No.

Amount

of tax deposited in respect of deductee (Rs.)

Challan
Identification number (CIN)

BSR Code

of the

Bank

Branch

Date

on which tax deposited (dd/mm/yyyy)

Challan
Serial Number

1.

2.

Total (Rs.)

Verification


I, …………….., son/daughter of …………. in the capacity of
……. (designation) do hereby certify that a sum of (Rs.)
………….. [Rs.

………….

(in

words)]

has

been

deducted

and

deposited

to


the credit of the Central Government. I further certify
that the information given above is true, complete and
correct and is based on the books of account,
documents, challan-cum-statement of deduction of tax,
TDS deposited and other available records.

Place

(Signature

of

person
responsible for deduction of tax)

Date

Full name: ”.

4. In the principal rules, in Appendix II, in form 26Q, with effect from the 1st day of July, 2022 ––
(a) for the brackets, words, figures and letters “[See sections 192A, 193, 194, 194A, 194B, 194BB, 194C, 194D, 194DA, 194EE, 194F, 194G, 194H, 194-I, 194J, 194K, 194LA, 194LBA, 194LBB, 194LBC, 194N, 194-O, 194P, 194Q, 197A, 206AA, 206AB and rule 31A]”, the following brackets, words, figures and letters, shall be substituted, namely:––
“[See sections 192A, 193, 194, 194A, 194B, 194BB, 194C, 194D, 194DA, 194EE, 194F, 194G, 194H, 194 -I, 194J, 194K, 194LA, 194LBA, 194LBB, 194LBC, 194N, 194-O, 194P, 194Q, 194R, 194S,  197A, 206AA, 206AB
and rule 31A]”;
(b) for the “Annexure”, the following “Annexure” shall be substituted, namely:––………………. Click here to read more.
Source: https://egazette.nic.in/WriteReadData/2022/236728.pdf

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