Notification No. 94/2023 [F.No. 370142/2/2023-TPL-Part (1)] / GSR 813(E)

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MINISTRY OF FINANCE (Department of Revenue) ( CENTRAL BOARD OF DIRECT TAXES ) NOTIFICATION New Delhi, the 31st October, 2023 G.S. R . 81 3 (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 an d 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 charge able 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 se rial 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 Pa rt B3 of Part B - TI] 1a”. [Notification No. 94/2023/ F.No. 370142/2/2023 - TPL - Part ( 1 ) ] SURBENDU THAKUR, Under Secy.

[ I I — 3(i ) ] : 3 Explanatory Memorandum: This amendment is effective from 1st day of April, 2023 and applies to assessment year 2023 - 24 relevant to the p revious 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 . Uploaded by Dte. of Printing at Government of India Press, Ring R oad, Mayapuri, New Delhi - 110064 and Published by the Controller of Publica tions, Delhi - 110054.