Income-tax (19th Amendment) Rules, 2022

Jun 23, 2022 | by TeamLease RegTech Legal Research Team

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Finance & Taxation ComplianceThe Central Board of Direct Taxes (CBDT) on June 22, 2022 has issued the Income-tax (19th Amendment) Rules, 2022 to further amend the Income-tax Rules, 1962.

The following amendments have been made:

• In rule 30, which specifies Time and mode of payment to Government account of tax deducted at source or tax paid under sub-section (1A) of section 192, sub-rule 2D has been 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.”

• In rule 30, which specifies Time and mode of payment to Government account of tax deducted at source or tax paid under sub-section (1A) of section 192, sub-rule 6D has been 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.”

• In rule 31, which specifies Certificate of tax deducted at source to be furnished under section 203, sub-rule 3D has been inserted, 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.”;

• In rule 31A, which specifies Statement of deduction of tax under sub-section (3) of section 200, in sub-rule (4), clause (xvii) has been 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.”

• In rule 31A, which specifies Statement of deduction of tax under sub-section (3) of section 200, sub-rule (4D) has been 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.”

• FORM 16E, which specifies Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source has been inserted.

• Form No. 26QB, which specifies Challan-cum-statement of deduction of tax under section 194-IA has been substituted.

• FORM NO. 26QC, which specifies Challan-cum-statement of deduction of tax under section 194-IB has been substituted.

• Form No.26QD,which specifies Challan-cum-statement of deduction of tax under section 194M has been substituted.

• Form No. 26QE, which specifies Challan-cum-statement of deduction of tax under section 194S by specified persons has been substituted.

*Disclaimer – Kindly find the amended appendix and forms in the provided document/link.

All the provisions of the said rules shall come into effect from July 01, 2022.

[Notification No. G.S.R. 463(E)]


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