Page 114 - MA - May 2017

TAX UPDATES

Amendment), Rules, 2017. (b) activities and the nature of the specified income
(2) They shall come into force from the 1st day of remain unchanged throughout the financial years;
April,2017. and
2. In the Income-tax Rules, 1962 (hereafter referred to (c) shall file return of income in accordance with the
as the Principal rules), for the existing rule 19AB, provision of clause (g) of sub-section (4C) section
the following rule shall be substituted, namely:- 139 of the Income-tax Act, 1961.
“19AB. Form of report for claiming deduction under 3. This notification shall deemed to have been applied for
section 80JJAA. Report of an accountant which is the financial years 2013-2014, 2014-2015, 2015-
required to be furnished by the assessee along with 2016, 2016-2017 and 2017-2018.
the return of income under clause (c) of sub-section [Notification No. 24/2017/ F. No.196/15/2013-ITA-I]
(2) of section 80JJAA shall be in Form No. 10DA.”
3. In the principal rules, in Appendix II, for the ‘Form  In exercise of the powers conferred by clause (46)
No. 10DA’, the following Form shall be substituted. of section 10 of the Income-tax Act, 1961 (43 of
[Notification No. 26/2017 /F. No. 370142/3/2017-TPL] 1961), the Central Government hereby notifies for
the purposes of the said clause, the Madhya Pradesh
 In exercise of the powers conferred by sub-section Electricity Regulatory Commission, a Commission
(3) of section 115BBF, read with section 295 of the constituted by the State Government of Madhya
Income-tax Act, 1961 (43 of 1961), the Central Pradesh, in respect of the following specified income
Board of Direct Taxes hereby makes the following arising to that Commission, namely:—
rules further to amend the Income-tax Rules, 1962, (a) amount received as petition fees;
namely:— (b) amount received as interest on savings;
1. (1) These rules may be called the Income-tax (5 th (c) amount received as fines and charges; and
Amendment) Rules, 2017. (d) other incidental income received as Grants, sale of
(2) They shall come into force on the1st day of April, tender documents, processing fees, certified copying
2017. fees, sale of old newspapers, license fee, vehicle
2. In the Income-tax Rules, 1962 (hereafter referred to rent, interest on loans to staff, Right to Information
as the principal rules), after rule 5F, the following receipts, receipts from ‘Distribution of Tariff Book’.
rule shall be inserted. [Notification No. 23/2017/F. No.196/27/2014-ITA-I]
[Notification No. 25 /2017/F. No. 370142/1/2017‐TPL]
 In exercise of the powers conferred by section 139
 In exercise of the powers conferred by clause (46) read with section 295 of the Income-tax Act, 1961
of section 10 of the Income-tax Act, 1961 (43 of (43 of 1961), the Central Board of Direct Taxes
1961), the Central Government hereby notifies for hereby makes the following rules further to amend
the purposes of the said clause, the Science and the Income-tax Rules, 1962, namely:-
Engineering Research Board, a board constituted 1. (1) These rules may be called the Income-tax (Fourth
by Central Government, in respect of the following Amendment) Rules, 2017.
specified income arising to that Board, namely:— (2) They shall come into force with effect from the 1st
(a) grants (revenue and capital) received from Central day of April, 2017.
Government; [Notification No. 21/2017/ F.No.370142/5/2017-TPL]
(b) interest received or accrued on bank account either
saving or on fixed deposits with banks;  Whereas, a Third Protocol amending the Agreement
(c) refund of unspent amount received back from the between the Government of the Republic of India
institutions to which Science and Engineering and the Government of the Republic of Singapore
Research Board had given a grant earlier; and for the avoidance of double taxation and the
(d) other incomes like receipts as per the Right to prevention of fiscal evasion with respect to taxes on
Information Act, 2005 (22 of 2005) and scrap sale. income was signed at New Delhi on the 30th day
2. The provisions of this notification shall be effective of December, 2016 (hereinafter referred to as the
subject to the conditions that the Science and Third Protocol);
Engineering Research Board,— And whereas, the Third Protocol entered into force on
(a) shall not engage in any commercial activity; the 27th day of February, 2017, being the date of

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