The Central Board of Direct Taxes (CBDT) on October 31, 2023, published the Income-tax (Twenty-Seventh Amendment) Rules, 2023 to further amend the Income-tax Rules, 1962.
This shall come into force on April 01, 2023
The following has been stated namely: -
• in Appendix II, in Form ITR-7 PART-B which states "Statement of the total income and tax computation with respect to income chargeable to tax" or the assessment year commencing on the 1st day of April 2023-
(a) in Part B–TI, Part B1, for serial number 16 and entries relating thereto, the following serial number and entries thereto shall be substituted, namely: -
“16 Specified incomes chargeable u/s 115BBI, included in 13, to be taxed @ 30% (Sl. No 7 of Schedule 115BBI)
17 Aggregate income to be taxed at normal rates (13-14-15-16) (including income other than specified income under section 115BBI)
(b) in Part B–TTI, against serial number 1, for the item (a) and entries relating thereto, the following item and entries thereto, shall be substituted, namely: -
“a Tax at normal rates on [Sl. No. 17 of Part B1 of Part B-TI] OR [Sl. No. (13-14) of Part B2 of Part B-TI] OR [Sl. No. 13 of Part B3 of Part B-TI]
[Notification No. G.S.R. 813(E)]
