{"id":85621,"date":"2016-11-15T11:45:53","date_gmt":"2016-11-15T06:15:53","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=85621"},"modified":"2016-11-26T22:50:50","modified_gmt":"2016-11-26T17:20:50","slug":"the-income-tax-29th-amendment-rules-2016-notified","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2016\/11\/15\/the-income-tax-29th-amendment-rules-2016-notified\/","title":{"rendered":"The Income Tax (29th Amendment) Rules, 2016, notified"},"content":{"rendered":"<p><strong>S.O. 3399(E).\u2014<\/strong>In exercise of the powers conferred by Section 32, Section 115BA and 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:-<\/p>\n<p style=\"text-align: justify;\">(1) These rules may be called the Income Tax (29th Amendment) Rules, 2016.<\/p>\n<p style=\"text-align: justify;\">(2) In the Income Tax Rules, 1962 ( here after referred to as the principal rules),-<\/p>\n<p style=\"text-align: justify;\">(a) in Rule 5, after sub-rule (1), the following proviso shall be inserted with effect from 1st day of April, 2016, namely:-<\/p>\n<p style=\"text-align: justify; padding-left: 30px;\">\u201cProvided that in case of a domestic company which has exercised option under sub-section (4) of Section 115BA, the allowance under clause (ii) of sub-section (1) of Section 32 in respect of depreciation of any block of assets entitled to more than forty per cent, shall be restricted to forty per cent, on the written down value of such block of assets.\u201d<\/p>\n<p style=\"text-align: justify;\">(b) in the New Appendix I, in the Table, in the second column, for the figures \u201c \u201850\u2019, \u201860\u2019, \u201880\u2019, \u2018100\u2019 \u201d, wherever they occur, the figure \u201c40\u201d shall be substituted with effect from the 1st day of April, 2017.<\/p>\n<p style=\"text-align: right;\">[Notification No. 103\/2016\/ F.No.370142\/29\/2016 -TPL]<\/p>\n<p style=\"text-align: justify;\"><strong>Note:<\/strong> The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (ii) vide notification number S.O. 969 (E), dated the 26th March, 1962 and last amended by the Income Tax (28th Amendment) Rules, 2016, vide notification number G.S.R No.982(E), dated the 17.10.2016.<\/p>\n<p style=\"text-align: right;\">MINISTRY OF FINANCE<\/p>\n<p style=\"text-align: right;\">[Notification dated\u00a07th November, 2016]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.O. 3399(E).\u2014In exercise of the powers conferred by Section 32, Section 115BA and Section 295 of the Income Tax Act, 1961 (43 <\/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":[4,1193],"tags":[],"class_list":["post-85621","post","type-post","status-publish","format-standard","hentry","category-legislationupdates","category-notifications"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Income Tax (29th Amendment) Rules, 2016, 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\/2016\/11\/15\/the-income-tax-29th-amendment-rules-2016-notified\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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(21st Amendment) Rules, 2016","author":"Sucheta","date":"August 22, 2016","format":false,"excerpt":"The Central Board of Direct Taxes in exercise of the powers conferred by sub-section (1E) of section 206C read with section 295 of the Income-tax Act, 1961, makes Income-tax (21st Amendment) Rules, 2016 in order to amend the Income-tax Rules, 1962. They shall come into force on the date of\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":77841,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/10\/13\/the-income-tax-26th-amendment-rules-2016-notified\/","url_meta":{"origin":85621,"position":1},"title":"The Income Tax ( 26th Amendment) Rules, 2016 notified","author":"Saba","date":"October 13, 2016","format":false,"excerpt":"S.O. 3160(E).\u2014 In exercise of the powers conferred by Section 139A and Section 285BA, 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:\u2014 1. (1) These\u2026","rel":"","context":"In &quot;Foreign Legislation&quot;","block_context":{"text":"Foreign Legislation","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/foreign\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":77941,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/10\/14\/the-income-tax-27th-amendment-rules-2016-notified\/","url_meta":{"origin":85621,"position":2},"title":"The Income Tax (27th Amendment) Rules, 2016, notified","author":"Saba","date":"October 14, 2016","format":false,"excerpt":"S.O. 3179(E).\u2014 In exercise of the powers conferred by clause (b) of Section 13B, 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. (1) These\u2026","rel":"","context":"In &quot;Foreign Legislation&quot;","block_context":{"text":"Foreign Legislation","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/foreign\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":259394,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/12\/31\/income-tax-35th-amendment-rules-2021\/","url_meta":{"origin":85621,"position":3},"title":"Income-tax (35th Amendment) Rules, 2021","author":"Bhumika Indulia","date":"December 31, 2021","format":false,"excerpt":"On December 29, 2021, the Central Board of Direct Taxes notified\u00a0Income-tax (35th Amendment) Rules, 2021 to amend the Income-tax Rules,1962. Key amendment: In the Income-tax Rules, 1962, the following rule shall be inserted, namely:\u2013 16DD. Form of particulars to be furnished along with return of income for claiming deduction under\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"CBDT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":77621,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/10\/10\/the-income-tax-24th-amendment-rules-2016-notified\/","url_meta":{"origin":85621,"position":4},"title":"The Income Tax (24th Amendment) Rules, 2016, notified","author":"Saba","date":"October 10, 2016","format":false,"excerpt":"New Delhi, the 4th October, 2016 S.O. 3145(E).\u2014In exercise of the powers conferred by clause (iii) of Explanation to Section 35ABA and 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\u2026","rel":"","context":"In &quot;Foreign Legislation&quot;","block_context":{"text":"Foreign Legislation","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/foreign\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":218918,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/09\/01\/central-board-of-direct-taxes-notifies-the-income-tax-fifth-amendment-rules-2019\/","url_meta":{"origin":85621,"position":5},"title":"Central Board of Direct Taxes notifies the Income\u2013tax (Fifth Amendment) Rules, 2019","author":"Bhumika Indulia","date":"September 1, 2019","format":false,"excerpt":"G.S.R. 614(E)\u2014In exercise of the powers conferred by Section 139 A 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:\u2014 Short title and commencement- (1) These Rules may\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/85621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/91"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=85621"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/85621\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=85621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=85621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=85621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}