S.O. 848 (E), In exercise of the powers conferred by 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 rules may be called the Income-tax (Fifth Amendment) Rules, 2006.
(2) They shall come into force from the date of their publication in the Official Gazette.
2. In the Income-tax Rules, 1962, –
(a) in rule 12, in sub-rule (1), in clause (b) –
i. in the second proviso, for the words, figure and letter “return in Form No. 2E : Naya Saral”, the words, figures and letter “return in Form No. 2E : Naya Saral on or before 31st day of July, 2006” shall be substituted;
(ii) after the third proviso, the following proviso shall be inserted, namely:-
‘Provided also that in the case of an assessee being an individual or a Hindu undivided family, resident in India, where –
(a) the total income does not include income chargeable to income-tax under the head “Profits and gains of business or profession” or “Capital gains” or agricultural income;
(b) no relief under section 89 in respect of arrears or advance of salary is claimed; and
(c) he does not own more than one house property,
the assessee shall also have the option of filing the return in Form No. 2F and the return in this Form shall not be accompanied by a statement showing the computation of the tax payable on the basis of the return, or proof of the tax, if any, claimed to have been deducted at source or the advance tax or tax on self-assessment, if any, claimed to have been paid:’
(b) in appendix-II, after the form “FORM No. 2E NAYA SARAL”, the following form shall be inserted, namely:-
