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Untitled Document




94/2023, Dated: October 31, 2023

G.S.R. 813(E). - In exercise of the powers by section 139 read with 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. Short title and commencement. - (1) These rules may be called the Income-tax (Twenty-Seventh Amendment) Rules, 2023.

(2) They shall be deemed to have come into force from 1st day of April, 2023.

2. In the Income-tax Rules, 1962, in Appendix II, in Form ITR-7, in PART-B for the assessment year commencing on the 1st day of April, 2023 -

(a) in Part B–TI, the Part B1, for serial number 16 and entries relating thereto, the following serial number and entries thereto shall be substituted, namely: -

"16 Specified income chargeable u/s 115BBI, included in 13, to be taxed @ 30% (Sl. No 7 of Schedule 115BBI) 16  
17 Aggregate income to be taxed at normal rates (13-14-15-16) (including income other than specified income under section 115BBI) 17";  

(b) in Part B–TTI, against serial number 1, for item a and entries relating thereto, the following item and entried 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] 1a".  

[F.No. 370142/2/2023-TPL-Part (1)]

(Surbendu Thakur)
Under Secy.

Explanatory Memorandum: This amendment is effective from 1st day of April, 2023 and applies to assessment year 2023-24 relevant to the previous year 2022-23. It is hereby certified that no person is being adversely affected by giving retrospective effect to these rules.

Note:- The principal rules were published vide notification S.O. 969(E), dated the 26th March, 1962 and last amended vide notification G.S.R.786(E), dated the 19th October, 2023.

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