CBDT publishes the Income-tax (4th Amendment) Rules, 2020
Feb 19, 2020
The Central Board of Direct Taxes (CBDT) on February 12, 2020, publishes the Income-tax (4th Amendment) Rules, 2020 to further amend the Income-tax Rules, 1962.
The following amendments are as under:
Insertion of Rules:
i. Rule 21AE - Exercise of option under section 115BAA(5): The option to be exercised in accordance with the provisions of section 115BAA(5) which specifies the procedure for payment of tax on income by certain domestic companies, by a person, being a domestic company, for any previous year relevant to the assessment year beginning on or after April 01, 2020, shall be furnished electronically either under digital signature or electronic verification code in Form No. 10-IC.
ii. Rule 21AF - Exercise of option under section 115BAB(7): The option to be exercised in accordance with the provisions of sub-section (7) of section 115BAB which specifies the procedure f…
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