MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 29th May, 2020
INCOME-TAX
G.S.R. 338(E). – In exercise of the powers conferred 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 (12th Amendment) Rules, 2020.
(2) They shall come into force with effect from the date of publication in the Official Gazette.
2. In the Income-tax Rules, 1962,
(a) in rule 12, in sub-rule (1) –
(I) in clause (a), in the proviso,-
(i) in item (V), the word “or” shall be inserted at the end; (ii) items (VII) and (VIII) shall be omitted;
(II) in clause (ca), in the proviso, item (VI) shall be omitted.
(b) in Appendix II, for FORM “Sahaj(ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 and Form ITR-V”, the following Forms shall, respectively, be substituted, namely:
[Notification No. 31/2020/F. No. 370142/32/2019-TPL]
ANKUR GOYAL, Under Secy.
Note : The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) vide notification number S.O. 969(E), dated the 26th March,1962 and last amended by the Income-tax (11th Amendment) Rules, 2020, vide notification number G.S.R. 329 (E) dated 28.5.2020.
Click here to Download – Notification No. 31/2020 of Income Tax Act, 1961
For your reference :
Rule-12 of Income Tax Act, 1962 :-
(1) The return of income required to be furnished under sub-section (1) or sub- section (3) or sub-section (4A) or sub-section (4B) or sub-section (4C) or sub-section (4D) [or sub-section (4E)] [or sub-section (4F)] of section 139 or clause (i) of sub-section (1) of section 142 or sub-section (1) of section 148 or section 153A [***] relating to the assessment year commencing [on the 1st day of April, 1[2020] shall,—
[(a) in the case of a person being 2[an individual who is a resident other than not ordinarily resident and] where the total income includes income chargeable to income-tax, under the head,—
(i) “Salaries” or income in the nature of family pension as defined in the Explanation to clause (iia) of section 57; or
(ii) “Income from house property”, where assessee does not own more than one house property and does not have any brought forward loss 3[or loss to be carried forward] under the head; or
(iii) “Income from other sources”, except winnings from lottery or income from race horses [and does not have any loss under the head], be in Form [SAHAJ] (ITR-1) and be verified in the manner indicated therein:]
[Provided that the provisions of this clause shall not apply to a person who,—
4[(I) has assets (including financial interest in any entity) located outside India;
(IA) has signing authority in any account located outside India;
(IB) has income from any source outside India;
(IC) has income to be apportioned in accordance with provisions of section 5A;]
4a[(ID) has claimed deduction under section 57, other than deduction claimed under clause (iia) thereof;
(IE) is a director in any company;
(IF) has held any unlisted equity share at any time during the previous year;
(IG) is assessable for the whole or any part of the income on which tax has been deducted at source in the
hands of a person other than the assessee;]
(II) has claimed any relief of tax under section 90 or 90A or deduction of tax under section 91; 6[***]
[(III) has agricultural income, exceeding five thousand rupees;]]
7[(IV) has total income, exceeding fifty lakh rupees;
(V) has income taxable under section 115BBDA; OR
(VI) has income of the nature referred to in section 115BBE;
(VII) owns a house property in joint-ownership with two or more persons; or
(VIII) is required to furnish a return of income under seventh proviso to sub-section (1) of section 139.]
8[***]
9[***]
10[(c) in the case of a person being an individual [not being an individual to whom clause (a) applies] or a Hindu undivided family where the total income does not include income 11[under the head] business or profession, be in Form No. ITR-2 and be verified in the manner indicated therein; ]
[(ca) in the case of a person being an individual or 11a[a Hindu undivided family, who is a resident other than not ordinarily resident, or a firm, other than limited liability partnership firm, which is a resident] deriving
12[“income under the head Profits or gains of business or profession” and such income is computed in accordance with special provisions referred to in section 44AD, section 44ADA and section 44AE of the Act for computation of such income, be in Form SUGAM (ITR-4)] and be verified in the manner indicated therein:]
[Provided that the provisions of this clause shall not apply to a person who,—
12a[(I) has assets (including financial interest in any entity) located outside India;
(IA) has signing authority in any account located outside India;
(IB) has income from any source outside India;
(IC) has income to be apportioned in accordance with provisions of section 5A;
(ID) is a director in any company;
(IE) has held any unlisted equity share at any time during the previous year;
(IF) has total income, exceeding fifty lakh rupees;
(IG) owns more than one house property, the income of which is chargeable under the head “Income from house property”;
(IH) has any brought forward loss or loss to be carried forward under any head of income;
(IJ) is assessable for the whole or any part of the income on which tax has been deducted at source in the hands of a person other than the assessee; ]
(II) has claimed any relief of tax under section 90 or 90A or deduction of tax under section 91; 13[***]
[(III) has agricultural income, exceeding five thousand rupees;]]
14[(IV) has income taxable under section 115BBDA; or
(V) has income of the nature referred to in section 115BBE;]
14a[(VI) owns a house property in joint-ownership with two or more persons]
(d) in the case of a person being an individual or a Hindu undivided family other than the individual or Hindu undivided family referred to in clause (a) or 16[***] clause (c) [or clause (ca)] and 15[having income under the head] business or profession, be in 17[Form No.ITR-3] and be verified in the manner indicated therein;
(e) in the case of a person not being an individual or a Hindu undivided family or a company or a person to which clause (g) applies, be in Form No. ITR-5 and be verified in the manner indicated therein;
(f) in the case of a company not being a company to which clause (g) applies, be in Form No. ITR-6 and be verified in the manner indicated therein;
(g) in the case of a person including a company whether or not registered under section 25 of the Companies Act, 1956 (1 of 1956), required to file a return under sub-section (4A) or sub-section (4B) or sub-section (4C) or subsection
(4D) 17a[***] of section 139, be in Form No. ITR-7 and be verified in the manner indicated therein;
(h) [***]
