INCOME-TAX (FOURTH AMENDMENT) RULES, 2007

NOTIFICATION NO.169/2007, DATED 14-5-2007

In exercise of the powers conferred by section 295 of the Income Tax Act, 1961 (43 of 1961) (hereinafter referred to as the Act), 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 (Fourth Amendment) Rules, 2007.

       (2) They shall come into force on the 14^th  day of May, 2007.

2. In the Income-tax Rules, 1962,-

(a) for rule 12, the following rule shall be substituted, namely:-

‘Return of income and return of fringe benefits

12. (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) of section 139 or clause (i) of sub-section (1) of section 142 or sub-section (1) of section 148 or section 153A or the return of fringe benefits required to be furnished under sub-section (1) or sub-section (2) of section 115WD relating to the assessment year commencing on the 1st day of April, 2007 or any subsequent assessment year shall, -

(a) in the case of a person being an individual where the total income includes income chargeable to income-tax  under the head “salaries” or income in the nature of family pension as defined in the Explanation to clause (iia) of section 57 but does not include any other income except income by way of interest chargeable to income-tax under the head “income from other sources”, be in Form No. ITR-1 and be verified in the manner indicated therein;

(b) 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 any income chargeable to income-tax under the head “Profits or gains of business or profession”, be in Form No. ITR-2 and be verified in the manner indicated therein;

(c) in the case of a person being an individual or a Hindu Undivided family who is a partner in a firm and where income chargeable to income-tax under the head “Profits or gains of business or profession” does not include any income except the income by way of any interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from such firm, be in Form No. ITR-3 and be verified in the manner indicated therein;

(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 clause (b) or clause (c) and deriving income from a proprietory business or profession, be in Form No. ITR-4 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 sub-section (4D) of section 139, be in Form No. ITR-7 and be verified in the manner indicated therein;

(h) in the case of a person who is not required to furnish the return of income but is required to furnish the return of fringe benefits, be in Form No. ITR-8 and be verified in the manner indicated therein.

(2) The return of income and return of fringe benefits required to be furnished in Form No.ITR-1 or Form No ITR-.2 or Form No. ITR-3 or Form No.ITR-4 or Form No.ITR-5 or Form No.ITR-6 or Form No.ITR-8 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 or collected at source or the advance tax or tax on self-assessment, if any, claimed to have been paid or any document or copy of any account or Form or report of audit required to be attached with the return of income or the return of fringe benefits under any of the provisions of the Act.

(3) The return of income or return of fringe benefits referred to in sub-rule (1) may be furnished  in any of the following manners, namely:-

(i) furnishing the return in a paper form;

(ii) furnishing the return electronically under digital signature;

(iii) transmitting the data in the return electronically and thereafter submitting the verification of the return in Form ITR-V;

(iv) furnishing a bar-coded return in a paper form:

Provided that -

(a) a firm required to furnish the return in Form ITR-5 and to whom provisions of section 44AB are applicable or a company required to furnish the return in Form ITR-6 shall furnish the return in the manner specified in clause (ii) or clause (iii);

(b) a person required to furnish the return in Form ITR-7 shall  furnish the return in the manner specified in clause (i).

(4) The Director-General of Income-tax (Systems) shall specify the procedures, formats and standards for ensuring secure capture and transmission of data and shall also be responsible for evolving and implementing appropriate security, archival and retrieval policies in relation to furnishing the returns in the manners specified in clauses (ii), (iii) and (iv) of sub-rule (3).

(5) Where a return of income or return of fringe benefits, relates to the assessment year commencing on the 1st day of April, 2006 or any earlier assessment year, it shall be furnished in the appropriate form as applicable in that assessment year.’

(b) in appendix-II, for Form No. 1, Form No. 2, Form No. 2D, Form No. 2F, Form No. 3,  Form No. 3A and Form No.3B, the following forms shall be substituted, namely:-