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Taxmann’s Income Tax Rules – 59th Edition March 2022.

Taxmann’s Income Tax Rules – 59th Edition March 2022.


This book covers the Amended, Updated & Annotated text of the Income-tax Rules and 20+ Allied Rules.

The recent changes in the Income-tax Rules, 1962 are as follows:

  • [Omitted] Omission of outdated 24 Rules and 70+ Forms
  • [Insertion of New Rules & Changes in Existing Rules] Insertion of 24 new Rules and change in 20 existing Rules
  • [Insertion of New Forms & Changes in Existing Forms] Insertion of 20 new Forms and change in 16 existing Forms
  • [New Rules]
    • New Rule for computation of capital gains on the sum received from ULIPs that are not exempt under section 10(10D)
    • New Rules and Forms for registration and approval of charitable trusts, institutions, and funds
    • New Rules to claim relief on offshore indirect transfer of Indian assets by entities impacted by the retrospective amendment
    • New Rule specifying the threshold limit for significant economic presence
    • New Rule for computing taxable interest on provident fund contributions exceeding threshold limits
    • New Form 12BBA to be submitted by senior citizens to claim the benefit of section 194P

The Present Publication is the 59th Edition & updated till the Income Tax (Second Amendment) Rules 2022, authored by Taxmann’s Editorial Board, with the following noteworthy features:

  • [Coverage] of this book includes:
    • All Rules and Schemes, which are either notified under the Income-tax Act or referred to in different provisions of the Income-tax Act, are covered
    • Contains 23 divisions covering all Rules relevant under the Income-tax Act, i.e.,
      • Income-tax Rules
      • ICDS
      • Faceless Assessment, Appeal & Penalty Scheme with Directions
      • STT, CTT & EL, etc.
  • [Action Points for Forms] All Forms carry Action Points that explain the Relevant Provisions and Process of Filing
  • [Quick Identification for Redundant & e-Forms]
  • [Bestseller Series] Taxmann’s series of Bestseller Books for more than Five Decades
  • [Zero Error] Follows the Six Sigma Approach to achieve the benchmark of ‘Zero Error’

The contents of the book are as follows:

  • Income-tax Rules, 1962 amended up to date with a list of e-Forms & text of provisions of Allied Law
  • Income Computation and Disclosure Standards
  • Income-tax (Appellate Tribunal) Rules, 1963 along with the text of the Standing Order under Income-tax (Appellate Tribunal) Rules 1963, other Notifications & Instructions, and text of the Income-tax Appellate Tribunal Members (Recruitment and Conditions of Service) Rules 1963
  • Faceless Assessment Scheme, 2019 with Directions
  • Faceless Appeal Scheme, 2021
  • Faceless Penalty Scheme, 2021 with Directions
  • Commodities Transaction Tax Rules, 2013
  • Securities Transaction Tax Rules, 2004 as amended up to date
  • Equalisation Levy Rules, 2016
  • Prohibition of Benami Property Transaction Rules, 2016
  • Income-tax (Dispute Resolution Panel) Rules, 2009
  • Authority for Advance Rulings (Procedure) Rules, 1996
  • Centralized Verification Scheme, 2019
  • Centralized Processing of Returns Scheme, 2011 with the text of Application of provisions of Act relating to the processing of Returns
  • e-Settlement Scheme, 2021
  • e-Verification Scheme, 2021
  • e-Advance Rulings Scheme, 2022
  • Capital Gains Accounts Scheme, 1988
  • Reverse Mortgage Scheme, 2008
  • Reduction of Wavier of Interest under Section 234A/234B/234C with CBDT’s Instructions for waiver or reduction of interest
  • Delay in Filing Refund Claim with condonation of delay in filing refund claim and claim of carry forward of losses under section 119(2)(b) of the Income-tax Act
  • Relaxation of Validation (Section 119 of the Finance Act 2012) Rules, 2021

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