NOTIFICATION NO. 50/2006, DATED 9-3-2006

S.O. 303(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 ( First Amendment) Rules, 2006.
(2)       They shall come into force on the date of their publication in the Official Gazette.
  1. In the Income-tax Rules, 1962, in Appendix II, in Form No. 16, –
    1. in item 4, –
(A) clause (a) shall be omitted;
(B) clause (b) shall be relettered as clause (a);
(C) clause (c) shall be relettered as clause (b);

(ii)       in item 5, for the word, brackets and letter “to (c)”, the word, brackets and letter “and (b)” shall be substituted;
  1. for item 9, the following shall be substituted, namely:-

” 9. Deductions under Chapter VIA
      1. sections 80C, 80CCC and 80 CCD
Gross amount
Deductible amount
  1. section 80C
       (i) …………….   Rs………
       (ii) ……………   Rs………
       (iii) …………… Rs………
       (iv) …………..   Rs………
       (v) ……………   Rs………
       (vi) ……………   Rs………
  1. section 80CCC
  2. section 80CCD






Rs…………
Rs…………
Rs…………






Rs…………….
Rs…………….
Rs…………….
Note: 1. aggregate amount deductible under section 80C shall not exceed one lakh rupees
          2. aggregate amount deductible under the three sections, i.e., 80C, 80CCC and 80CCD, shall not exceed one lakh rupees
(B)    other sections (for e.g., 80E, 80G etc.) under Chapter VIA
Gross amount
Qualifying amount
Deductible amount
  1. section ……….
  2. section ……….
  3. section ……….
  4. section ……….
  5. section ……….
Rs……

Rs……
Rs……
Rs……
Rs……
Rs…………

Rs…………
Rs…………
Rs…………
Rs…………
Rs…………

Rs…………
Rs…………
Rs…………
Rs…………

                                                                                                                                “;
                        
  1. for items 13 to 15A, the following items shall be substituted, namely:-

” 13. Surcharge (on tax computed at S. No. 12 )                                      Rs…………
  14. Education Cess (on tax at S. No. 12 and surcharge at S. No.13)     Rs…………
  15. Tax payable (12+13+14)                                                                  Rs…………”;
  1. for item 17, the following item shall be substituted, namely:-

” 17. Tax payable ( 15-16 )                                                                       Rs…………”.
 

[Notification No. 50/2006/F.No.142/40/2005-TPL]

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