{"id":120231,"date":"2017-04-07T16:21:40","date_gmt":"2017-04-07T10:51:40","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=120231"},"modified":"2018-04-27T11:25:33","modified_gmt":"2018-04-27T05:55:33","slug":"income-tax-6th-amendment-rules-2017-notified","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2017\/04\/07\/income-tax-6th-amendment-rules-2017-notified\/","title":{"rendered":"Income Tax (6th Amendment), Rules, 2017, notified"},"content":{"rendered":"
\n

G.S.R 325(E)<\/b>.\u2014 In exercise of<\/span> the powers conferred by clause (c) of<\/span> sub-section (2) of<\/span>\u00a0Section 80JJAA read with Section 295 of<\/span> the Income Tax Act, 1961 (43 of<\/span> 1961), the Central<\/span> Board<\/span> of<\/span> Direct<\/span> Taxes\u00a0<\/span>hereby makes the following rules further to amend the Income Tax Rules, 1962, namely:\u2014<\/p>\n

1.<\/b> (1) These rules may be called the Income Tax (6th Amendment), Rules, 2017.<\/p>\n

(2) They shall come into force from the 1st day of<\/span> April, 2017.<\/p>\n

2.<\/b> In the Income Tax Rules, 1962 (hereafter referred to as the Principal rules), for the existing Rule 19AB, the following rule shall be substituted, namely:\u2014<\/p>\n

\u201c19AB. Form of<\/span> report for claiming deduction under Section 80JJAA<\/strong>. -Report of<\/span> an accountant which is required to be furnished by the assessee along with the return of<\/span> income under clause (c) of<\/span> sub-section (2) of S<\/span>ection 80JJAA shall be in Form No. 10DA.\u201d<\/p>\n

3.<\/b> In the principal rules, in Appendix II, for the \u2018Form No. 10DA\u2019, the following Form shall be substituted, namely:\u2014<\/p>\n

\u201cFORM NO. 10DA<\/strong><\/p>\n

[See Rule 19AB]<\/p>\n

Report under Section 80JJAA of<\/span> the Income-tax Act, 1961<\/p>\n

1.<\/b> I\/We* have examined the accounts and records of<\/span> _____________ (Name and address of<\/span> the assessee with permanent account number) engaged in the business of<\/span><\/p>\n

of<\/span> ____________ during the year ended on 31st day of<\/span> March ____________.<\/p>\n

2.<\/b> I\/We* certify that the deduction to be claimed by the assessee under sub-section (1) of<\/span>\u00a0Section 80JJAA of<\/span> Income-tax Act, 1961, in respect of<\/span> the assessment year ____________ is Rs. ____________ determined on the basis of<\/span> additional employee cost incurred in the case of<\/span> said business by the assessee in the previous year. The said amount has been worked out on the basis of<\/span> details given in annexure to this form.<\/p>\n

Place: ____________<\/p>\n

Date: ____________<\/p>\n

(Signature and Stamp\/Seal of<\/span> the Accountant)<\/p>\n

Name of<\/span> the Signatory____________<\/p>\n

Full Address____________<\/p>\n

Membership No. ____________<\/p>\n

Notes:<\/b><\/p>\n

1.<\/b> *Delete whichever is not applicable.<\/p>\n

2.<\/b> This report is to be given by a chartered accountant within the meaning of<\/span> the Chartered Accountants Act, 1949 who holds a valid certificate of<\/span> practice under Section 6(1) of<\/span> that Act and is not a person referred to in clause (a) or clause (b) of<\/span> the Explanation below sub-section (2) of<\/span>\u00a0Section 288.<\/p>\n

3.<\/b> Where any of<\/span> the matter stated in this report is answered in the negative or with a qualification, the report shall state the reasons therefor.<\/p>\n

ANNEXURE<\/b><\/p>\n

(See paragraph 2 of<\/span> Form No. 10DA)<\/p>\n\n\n\n\n\n<\/colgroup>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

1.<\/p>\n<\/td>\n

\n

Name of<\/span> the assessee<\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

2.<\/p>\n<\/td>\n

\n

Address of<\/span> the assessee<\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

3.<\/p>\n<\/td>\n

\n

Permanent Account Number of<\/span> the assessee<\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

4.<\/p>\n<\/td>\n

\n

Assessment Year<\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

5.<\/p>\n<\/td>\n

\n

Additional employee cost incurred<\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

(I)<\/p>\n<\/td>\n

\n

In case of<\/span> an existing business:<\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

(a) Number of<\/span> employee as on the last day of<\/span> the preceding year.<\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

(b) Number of<\/span> employee as on the last date of<\/span> the previous year.<\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

(c) Increase in the number of<\/span> employee from the total number of<\/span> employee employed as on the last day of<\/span> the preceding year (a)-(b).<\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

(d) Number of<\/span> additional employee* employed during the year.<\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

(e) Number of<\/span> additional employee entitled for deduction i.e not exceeding the number of<\/span> increase in number of<\/span> employee as computed in (c).<\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

(f) Emoluments** paid or payable to additional employee entitled for deduction as computed in (e)#.<\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

(II)<\/p>\n<\/td>\n

\n

In case of<\/span> a new business, emoluments paid or payable to additional employees employed during the first year of<\/span> business.<\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

6.<\/p>\n<\/td>\n

<\/td>\n\n

30% of<\/span> the amount computed in 5(I)(f) or 5(II).<\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

7.<\/p>\n<\/td>\n

<\/td>\n\n

Remarks.<\/p>\n<\/td>\n

<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Notes:<\/b><\/p>\n

1.* \u201cadditional employee\u201d means an employee who has been employed during the previous year and whose employment has the effect of<\/span> increasing the total number of<\/span> employees employed by the employer as on the last day of<\/span> the preceding year, but does not include,\u2014<\/p>\n

(a<\/i>) an employee whose total emoluments are more than twenty-five thousand rupees per month; or<\/p>\n

(b<\/i>) an employee for whom the entire contribution is paid by the Government under the Employees’ Pension Scheme notified in accordance with the provisions of<\/span> the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of<\/span> 1952); or<\/p>\n

(c<\/i>) an employee employed for a period of<\/span> less than two hundred and forty days (one hundred and fifty days in case of<\/span> an assessee engaged in the business of<\/span> manufacturing of<\/span> apparel) during the previous year; or<\/p>\n

(d<\/i>) an employee who does not participate in the recognised provident fund;<\/p>\n

2.** \u201cemoluments\u201d means any sum paid or payable to an employee in lieu of<\/span> his employment by whatever name called, but does not include\u2014<\/p>\n

(a<\/i>) any contribution paid or payable by the employer to any pension fund or provident fund or any other fund for the benefit of<\/span> the employee under any law for the time being in force; and<\/p>\n

(b<\/i>) any lump-sum payment paid or payable to an employee at the time of<\/span> termination of<\/span> his service or superannuation or voluntary retirement, such as gratuity, severance pay, leave encashment, voluntary retrenchment benefits, commutation of<\/span> pension and the like\u201d.<\/p>\n

3.<\/b> # the amount shall be nil if the emoluments are paid otherwise than by an account payee cheque or account payee bank draft or by way of<\/span> a electronic clearing system through a bank account.\u201d.<\/p>\n

Ministry of<\/span> Finance<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

G.S.R 325(E).\u2014 In exercise of the powers conferred by clause (c) of sub-section (2) of\u00a0Section 80JJAA read with Section 295 of the <\/p>\n","protected":false},"author":91,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[14,4],"tags":[],"class_list":["post-120231","post","type-post","status-publish","format-standard","hentry","category-foreign","category-legislationupdates"],"yoast_head":"\nIncome Tax (6th Amendment), Rules, 2017, notified | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2017\/04\/07\/income-tax-6th-amendment-rules-2017-notified\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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