Amendment of the Income-tax Rules under section 192 of the Income-tax Act, 1961
Notification No. 123 was published on 30 March 2005. Its subject is Amendment of the Income-tax Rules under section 192 of the Income-tax Act, 1961.
This amends the Income-tax Rules. What it changes is the Rules, not the Act — and a rule can never take away what the section gives.
The Central Board of Direct Taxes, in exercise of the powers conferred by section 295 of the Income-tax Act, 1961, makes the Income-tax (Tenth Amendment) Rules, 2005, inserting rules 31A, 31AA and 31AB in Part VI of the Income-tax Rules, 1962 after rule 31, and inserting Form No. 24Q, Form No. 26AS, Form No. 27EQ and Form No. 26Q in Appendix II. Rule 31A requires every person responsible for deducting tax under Chapter XVII-B to deliver a quarterly statement under sub-section (3) of section 200, in Form No. 24Q for deduction under sub-sections (1) and (1A) of section 192 and in Form No. 26Q in other cases, by 15 July, 15 October and 15 January for the first three quarters and by 30 April following the last quarter. Rule 31AA requires every person responsible for collecting tax under section 206C to deliver a quarterly statement in Form No. 27EQ under the proviso to sub-section (3) of section 206C, on the same dates. Rule 31AB requires the prescribed income-tax authority or the person authorised by it, referred to in section 203AA or the second proviso to sub-section (5) of section 206C, to deliver a statement in Form No. 26AS by 15 June following the financial year to every person from whose income tax has been deducted, to the buyer or the licensee or lessee referred to in sub-sections (1) and (1C) of section 206C from whom tax has been collected, and to every person in respect of whose income tax has been paid.
NOTIFICATION NO. 123/2005, DATED 30-3-2005
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 (Tenth Amendment) Rules, 2005.
(2) They shall come into force on the date of publication in the Official Gazette.
2. In the Income-tax Rules, 1962,—
(a) in Part VI, after rule 31, the following rules shall be inserted, namely :—
"31A. Quarterly statement of deduction of tax under sub-section (3) of section 200 - Every person, being a person responsible for deducting tax under Chapter XVII-B shall, in accordance with the provisions of sub-section (3) of section 200, deliver or cause to be delivered to the prescribed income-tax authority or to the person authorized by such authority, quarterly statement—
(i) in Form No. 24Q in respect of deduction of tax at source under sub-sections (1) and (1A) of section 192; and
(ii) in Form No. 26Q in respect of other cases of deduction of tax at source,
on or before the 15th July, the 15th October, the 15th January in respect of the first three quarters of the financial year and on or before the 30th April following the last quarter of the financial year.
31AA. Quarterly statement of collection of tax under sub-section (3) of section 206C - Every person, being a person responsible for collecting tax under section 206C shall, in accordance with the proviso to sub-section (3) of section 206C, deliver or cause to be delivered to the prescribed income-tax authority or the person authorized by such authority, quarterly statement in Form No. 27EQ on or before the 15th July, the 15th October, the 15th January in respect of the first three quarters of the financial year and on or before the 30th April following the last quarter of the financial year.
31AB. Annual statement of tax deducted or collected or paid - The prescribed income-tax authority or the person authorized by such authority referred to in section 203AA or the second proviso to sub-section (5) of section 206C shall deliver,—
(i) to every person from whose income the tax has been deducted; or
(ii) to the buyer referred to in sub-section (1) or, as the case may be, to the licencee or lessee referred to in sub-section (1C) of section 206C from whom the amount has been collected; or
(iii) to every person in respect of whose income the tax has been paid,
a statement in Form No. 26AS by the 15th June following the financial year during which taxes were deducted or collected or paid."
(b) in Appendix II,-
(i) after Form No. 24, the following form shall be inserted, namely:—FORM NO. 24Q
(ii) after Form No. 26, the following form shall be inserted, namely:—
FORM NO. 26AS
(iii) after Form No. 27E , the following form shall be inserted, namely:—
FORM NO. 27EQ
(iv) after Form No. 26AS so inserted, the following form shall be inserted, namely:—
FORM NO. 26Q
[F. No. 142/36/2004-TPL]
| Rule of the 1962 Rules | Now, in the 2026 Rules |
|---|---|
| Rule 31A | rule 219 |
| Rule 31AA | rule 219 |
| Rule 31AB | no counterpart recorded |
| Rule 31 | rule 215 |
Forms it touches. Form No. 24Q, Form No. 26Q, Form No. 26AS, Form No. 27EQ
the date of publication in the Official Gazette.
In filing the quarterly TDS and TCS statements, and in checking a return against the Form No. 26AS annual statement of tax deducted, collected or paid.
Forms it names. Form No. 24, Form No. 24Q, Form No. 26, Form No. 26AS, Form No. 26Q, Form No. 27E, Form No. 27EQ
Rules it names. Rule 31 of the Income-tax Rules, 1962. The 1962 Rules were replaced by the Income-tax Rules, 2026, which renumbered nearly everything: a rule number quoted here almost never means the same rule today.
Source: the Income Tax Department’s own published text — its page for this instrument.