Income-tax (Sixth Amendment) Rules, 2008

Notification No. S.O. 752(E), Dated 28-3-2008

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 (Sixth Amendment) Rules, 2008.

(2) They shall come into force on the 1st day of April, 2008.

2. In the Income-tax Rules, 1962,

(a) in rule 12, –

(i) in sub-rule (1), for the words, figures and letters “on the 1st day of April, 2007 or any subsequent assessment year”, the words, figures and letters “on the 1st day of April, 2008″ shall be substituted;

(ii) in sub-rule (5), for the words, figures and letters “on the 1st day of April, 2006″, the words, figures and letters “on the 1st day of April, 2007″ shall be substituted;

(b) in Appendix-II, for Form ITR-1, Form ITR-2, Form ITR-3, Form ITR-4, Form ITR-5, Form ITR-6, Form ITR-7, and Form ITR-8, the following forms shall be substituted, namely:-

The return of income has to be filed by using the applicable form without any annexure (except for Form ITR-7) so as to facilitate electronic filing.

E-filing initiative of the Department has been received well and for Assessment Year 2007-08 over 20lakh E- Returns have been filed, out of which more than 64% E-

Returns have been filed voluntarily by the tax payers. In terms of the taxes paid, these returns account for over 65% of total taxes collected.

Electronic filing of returns for assessment year 2008-09 is compulsory for corporate tax-payers and for firms liable to tax audit u/s 44AB. These tax-payers may either file their return electronically under digital signature or may transmit the data of the return electronically and thereafter submit a one page verification Form which contains a summary of the return transmitted electronically.

All other categories of taxpayers (other than charitable trusts, institutions, etc.) will have the option to file the return in a paper form or electronically, as mentioned above, or in a bar-coded return form.

The new forms will be available on the Income Tax Department’s website http://www.incometaxindiaefiling. gov.in .The Government would urge taxpayers to use the e-filing option, since it will help the Department to serve them better.

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