{"id":247857,"date":"2021-05-05T20:30:08","date_gmt":"2021-05-05T15:00:08","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=247857"},"modified":"2021-05-05T20:30:08","modified_gmt":"2021-05-05T15:00:08","slug":"income-tax-15th-amendment-rules-2021","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/05\/05\/income-tax-15th-amendment-rules-2021\/","title":{"rendered":"Income tax (15th Amendment), Rules, 2021"},"content":{"rendered":"<p style=\"text-align: justify;\"><span dir=\"ltr\">The Central Board of Direct taxes makes Income tax (15th Amendment), Rules, 2021 <\/span><span dir=\"ltr\">to amend the Income<\/span><span dir=\"ltr\">&#8211;<\/span><span dir=\"ltr\">tax Rules,1962.<br \/>\n<\/span><\/p>\n<p style=\"text-align: justify;\"><span dir=\"ltr\">In the Income<\/span><span dir=\"ltr\">&#8211;<\/span><span dir=\"ltr\">tax Rules, 1962, in rule 2B relating to Conditions for the purpose of section 10(5),\u00a0<\/span><span dir=\"ltr\"> the following sub<\/span><span dir=\"ltr\">&#8211;<\/span><span dir=\"ltr\">rules shall be inserted, <\/span><\/p>\n<p style=\"text-align: justify; padding-left: 40px;\"><span dir=\"ltr\">\u201c(1A) For the assessment year beginning on the 1st day of April, 2021, where the individual referred to in <\/span><span dir=\"ltr\">sub<\/span><span dir=\"ltr\">&#8211;<\/span><span dir=\"ltr\">rule (1) avails any cash allowance from his employer in lieu of any travel concession or as<\/span><span dir=\"ltr\">sistance, the amount <\/span><span dir=\"ltr\">exempted under the second proviso to clause (5) of section 10 shall be the amount, not exceeding thirty<\/span><span dir=\"ltr\">&#8211;<\/span><span dir=\"ltr\">six thousand <\/span><span dir=\"ltr\">rupees per person, for the individual and the member of his family, or one<\/span><span dir=\"ltr\">&#8211;<\/span><span dir=\"ltr\">third of the specified expenditure, <\/span><span dir=\"ltr\">whichev<\/span><span dir=\"ltr\">er is less, subject to fulfilment of the following conditions, namely:<\/span><span dir=\"ltr\">&#8211;<\/span><\/p>\n<p style=\"text-align: justify; padding-left: 40px;\"><span dir=\"ltr\">(i) <\/span><span dir=\"ltr\">the individual has exercised an option to avail exemption under the second proviso of clause (5) of section <\/span><span dir=\"ltr\">10, in lieu of the exemption under clause (5) of section 10 in respect of on<\/span><span dir=\"ltr\">e unutilised journey during the <\/span><span dir=\"ltr\">block of four calendar years commencing from the calendar year 2018; <\/span><\/p>\n<p style=\"text-align: justify; padding-left: 40px;\"><span dir=\"ltr\">(ii) <\/span><span dir=\"ltr\">the payment in respect of the specified expenditure is made by the individual or any member of his family to <\/span><span dir=\"ltr\">a registered person during the specified peri<\/span><span dir=\"ltr\">od;<\/span><\/p>\n<p style=\"text-align: justify; padding-left: 40px;\"><span dir=\"ltr\">(iii) <\/span><span dir=\"ltr\">the payment in respect of the specified expenditure is made by an account payee cheque drawn on a bank or <\/span><span dir=\"ltr\">account payee bank draft, or use of electronic clearing system through a bank account or through such other <\/span><span dir=\"ltr\">electronic mode as prescribed under ru<\/span><span dir=\"ltr\">le 6ABBA; and<\/span><\/p>\n<p style=\"text-align: justify; padding-left: 40px;\"><span dir=\"ltr\">(iv) <\/span><span dir=\"ltr\">the individual obtains a tax invoice in respect of specified expenditure from the registered person referred in <\/span><span dir=\"ltr\">clause (ii).<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Board of Direct taxes makes Income tax (15th Amendment), Rules, 2021 to amend the Income&#8211;tax Rules,1962. In the Income&#8211;tax Rules, <\/p>\n","protected":false},"author":8808,"featured_media":154904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[],"class_list":["post-247857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Income tax (15th Amendment), Rules, 2021 | 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\/2021\/05\/05\/income-tax-15th-amendment-rules-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Income tax (15th Amendment), Rules, 2021\" \/>\n<meta property=\"og:description\" content=\"The Central Board of Direct taxes makes Income tax (15th Amendment), Rules, 2021 to amend the Income&#8211;tax Rules,1962. 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