MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 21st June, 2022 INCOME-TAX G.S.R. 463(E).–– In exercise of the powers conferred by section 295 read with sections 194B, 194-IA, 194R, 194S and section 206AB of the Income-tax Act, 1961, the Central Board of Direct Taxes, hereby, makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. Short title and commencement.–– (1) These rules may be called the Income-tax (19th Amendment) Rules, 2022. (2) Save as otherwise provided in these rules, they shall come into force from the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), (a) in rule 30, with effect from the 1st July, 2022–– (i) after sub-rule (2C), the following sub-rule shall be inserted, namely:–– “(2D) Notwithstanding anything contained in sub-rule (1) or sub-rule (2), any sum deducted under section 194S by a specified person referred to in that section shall be paid to the credit of the Central Government within a period of thirty days from the end of the month in which the deduction is made and shall be accompanied by a challan-cum-statement in Form No. 26QE.”; (ii) after sub-rule (6C), the following sub-rule shall be inserted, namely:–– “(6D) Where tax deducted is to be deposited accompanied by a challan-cum-statement in Form No.26QE, the amount of tax so deducted shall be deposited to the credit of the Central Government by remitting it electronically within the time specified in sub-rule (2D) into the Reserve Bank of India or the State Bank of India or any authorised bank.”; (b) in rule 31, after sub-rule (3C), the following sub-rule shall be inserted with effect from the 1st July, 2022, namely:– “(3D) Notwithstanding anything contained in sub-rule (1) or sub-rule (2) or sub-rule (3), every person, being a specified person referred to in section 194S and responsible for deduction of tax under that section shall furnish the certificate of deduction of tax at source in Form No.16E to the payee within fifteen days from the due date for furnishing the challan-cum-statement in Form No.26QE under rule 31A after generating and downloading the same from the web portal specified by the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) or the person authorised by him.”; (c) in rule 31A, with effect from the 1st day of July, 2022–– (i) in sub-rule (4), after clause (xvi), the following clause shall be inserted, namely:–– “(xvii) furnish particulars of amount deposited being prerequisite for releasing–– (a) winnings in terms of proviso to section 194B; (b) benefit or perquisite in terms of first proviso to sub-section (1) of section 194R; and (c) consideration in terms of proviso to sub-section (1) of section 194S along with the challan details such as BSR code of the bank, date of payment and challan serial number.” (ii) after sub-rule (4C), the following sub-rule shall be inserted, namely,–– “(4D) Notwithstanding anything contained in sub-rule (1) or sub-rule (2) or sub-rule (3) of sub-rule (4), every specified person referred to in section 194S and responsible for deduction of tax under that section shall furnish to the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) or the person authorised by the Principal Director General of Income-tax (Systems) or the Director General of Incometax (Systems), a challan-cum-statement in Form No. 26QE electronically in accordance with the procedures, formats and standards specified under sub-rule (5) within thirty days from the end of the month in which the deduction is made.”. 3. In the principal rules, in Appendix II, after Form No. 16D, the following Form shall be inserted with effect from the 1st July, 2022, namely,–– Form No. 16E
4. In the principal rules, in Appendix II, in form 26Q, with effect from the 1st day of July, 2022 –– (a) for the brackets, words, figures and letters “[See sections 192A, 193, 194, 194A, 194B, 194BB, 194C, 194D, 194DA, 194EE, 194F, 194G, 194H, 194-I, 194J, 194K, 194LA, 194LBA, 194LBB, 194LBC, 194N, 194-O, 194P, 194Q, 197A, 206AA, 206AB and rule 31A]”, the following brackets, words, figures and letters, shall be substituted, namely:–– “[See sections 192A, 193, 194, 194A, 194B, 194BB, 194C, 194D, 194DA, 194EE, 194F, 194G, 194H, 194-I, 194J, 194K, 194LA, 194LBA, 194LBB, 194LBC, 194N, 194-O, 194P, 194Q, 194R, 194S, 197A, 206AA, 206AB and rule 31A]”; (b) for the “Annexure”, the following “Annexure” shall be substituted, namely:–– “ANNEXURE: DEDUCTEE/PAYEE WISE BREAK UP OF TDS (Please use separate Annexure for each line-item in Table at Sl. No. 4 of main Form 26Q) Details of amount paid/credited during the quarter ended… (dd/mm/yyyy) and of tax deducted at source
BSR Code of branch/Receipt Number of Form No. 24G | |
Date on which challan deposited/Transfer voucher date (dd/mm/yyyy) | |
Challan Serial Number / DDO Serial No. of Form No. 24G | |
Amount as per Challan | |
Total tax to be allocated among deductees/payees as in the vertical total of Col. 421 | |
Total interest to be allocated among the deductees/payees mentioned below | |
Name of the Deductor/Payer | |
TAN | |
Sl. No. | Deductee/payee reference number provided by the deduct or/ payer, if available | Deductee/ payee code (01- Company 02- Other than company) | PAN of the deductee/ payee | Name of the deductee/ payee | Section code (See Note 17) | Date of payment or credit (dd/mm/yyyy) | Amount paid or credited | Amount of cash withdrawal in excess of Rs. 1 crore as referred to in section 194N (in cases not covered by the first proviso to section 194N) | Amount of cash withdrawal which is in excess of Rs.20 lakh but does not exceed Rs 1 crore for cases covered by sub clause (a) of clause (ii) of first proviso to section 194N | Amount of cash withdrawal in excess of Rs. 1 crore for cases covered by subclause (b) of clause (ii) of first proviso to section 194N | Total tax deducted | Total tax deposited | Date of deduction (dd/mm/ yyyy) | Rate at which deducted |
[412] | [413] | [414] | [415] | [416] | [417] | [418] | [419] | [419A] | [419B] | [419C] | [420] | [421] | [422] | [423] |
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Reason for non- deduction/ lower deduction/ Higher Deduction/ Threshold/ Transporter etc. (See notes 1 to 16) | Number of the certificate under section 197 issued by the Assessing Officer for non-deduction/lower deduction | If section code 94B-P is selected, then provide | | | | If section code 94R-P is selected, then provide | | | | If section code 94S-P is selected, then provide | | | |
| | Amount of tax deposited | BSR Code of Bank | Date of payment | Challan serial number | Amount of tax deposited | BSR Code of Bank | Date of payment | Challan serial number | Amount of tax deposited | BSR Code of Bank | Date of payment | Challan serial number |
[424] | [425] | [426A] | [426B] | [426C] | [426D] | [427A] | [427B] | [427C] | [427D] | [428A] | [428B] | [428C] | [428D] |
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Verification I, ........................................................................... , hereby certify that all the particulars furnished above are correct and complete.
Place………………… | ………………………………… |
| Signature of the person responsible for deducting tax at source |
Date…………………. | ………………………………… |
| Name and designation of the person responsible for deducting tax at source |
Notes:
- Write “A” if “lower deduction” or “no deduction” is on account of a certificate under section 197.
- Write “B” if no deduction is on account of declaration under section 197A other than the cases mentioned in sub-section (1F) of section 197A.
- Write “C” if deduction is on higher rate under section 206AA on account of non-furnishing of PAN.
- Write “D” if no deduction or lower deduction is on account of payment made to a person or class of person on account of notification issued under sub-section (5) of section 194A. 5. Write “E” if no deduction is on account of payment being made to a person referred to in Board Circular No. 3 of 2002 dated 28th June 2002 or Board Circular No. 11 of 2002 dated 22nd November 2002 or Board Circular No. 18/2017 dated 29th May 2017.
- Write “Y” if no deduction is on account of payment below threshold limit specified in the Income-tax Act, 1961.
- Write “T” if no deduction is on account of deductee or payee being transporter. PAN of deductee or payee is mandatory [section 194C(6)].
- Write “Z” if no deduction or lower deduction is on account of payment being notified under section 197A(1F).
- Write “M” if no deduction or lower deduction is on account of notification issued under second proviso to section 194N.
- Write “N” if no deduction or lower deduction is on account of payment made to a person referred to in the third proviso to section 194N or on account of notification issued under fourth proviso to section 194N.
- Write “O” if no deduction is as per the provisions of sub-section (2A) of section 194LBA.
- Write “P” if no deduction is on account of payment of dividend made to a business trust referred to in clause (d) of second proviso to section 194 or in view of any notification issued under clause (e) of the second proviso to section 194.
- Write “Q” if no deduction in view of payment made to an entity referred to in clause (x) of sub-section (3) of section 194A.
- Write “S” if no deduction is in view of the provisions of sub-section (5) of section 194Q.
- Write “T” if the deduction is on higher rate in view of section 206AB for non-filing of return of income.
- List of section codes is as under:
Section | Nature of Payment | Section Code |
192A | Payment of accumulated balance due to an employee | 192A |
193 | Interest on securities | 193 |
194 | dividend | 194 |
194A | Interest other than interest on securities | 94A |
194B | Winnings from lotteries and crossword puzzles | 94B |
Proviso to section 194B | Winnings from lotteries and crossword puzzles where consideration is made in kind or cash is not sufficient to meet the tax liability and tax has been paid before such winnings are released | 94B-P |
194BB | Winnings from horse race | 4BB |
194C | Payment of contractors and sub-contractors | 94C |
194D | Insurance Commission | 94D |
194DA | Payment in respect of life insurance policy | 4DA |
194EE | Payments in respect of deposits under National Savings Schemes | 4EE |
194F | Payments on account of repurchase of Units by Mutual Funds or UTIs | 94F |
194G | Commission, prize etc., on sale of lottery tickets | 94G |
194H | Commission or Brokerage | 94H |
194-I(a) | Rent | 4-IA |
194-I (b) | Rent | 4-IB |
194J(a) | Fees for Technical Services (not being professional service), royalty for sale, distribution or exhibition of cinematographic films and call center (@2%) | 94J-A |
194J(b) | Fee for professional service or royalty etc. (@10%) | 94J-B |
194K | Income in respect of units | 94K |
194LA | Payment of Compensation on acquisition of certain immovable property | 4LA |
194LBA(a) | Certain income in the form of interest from units of a business trust to a resident unit holder | 4BA1 |
194LBA(b) | Certain income in the form of dividend from units of a business trust to a resident unit holder | 4BA2 |
194LB | Income in respect of units of investment fund | LBB |
194LBC | Income in respect of investment in securitization trust | LBC |
194N | Payment of certain amounts in cash | 94N |
First proviso to section194N | Payment of certain amounts in cash to non-filers | 94N-F |
194-O | Payment of certain sums by e-commerce operator to e-commerce participant | 94O |
194P | Deduction of tax in case of specified senior citizens | 94P |
194Q | Payment of certain sums for purchase of goods | 94Q |
194R | Benefits or perquisites of business or profession* | 94R |
First Proviso to sub-section (1) of section 194R | Benefits or perquisites of business or profession where such benefit is provided in kind or where part in cash is not sufficient to meet tax liability and tax required to be deducted is paid before such benefit is released* | 94R-P |
194S | Payment of consideration for transfer of virtual digital asset by persons other than specified persons* | 94S |
Proviso to subsection(1) of section 194S | Payment for transfer of virtual digital asset where payment is in kind or in exchange of another virtual digital asset and tax required to be deducted is paid before such payment is released* | 94S-P |
* Note:–– In relation to section 194R and section 194S, the changes shall come into effect from 1st July, 2022.”. 5. In the principal rules, in Appendix II, for Form 26QB, the following Form shall be substituted, namely,–– Form No. 26QB
6. In the principal rules, in Appendix II, for Form 26QC, the following Form shall be substituted, namely:–– FORM NO. 26QC
7. In the principal rules, in Appendix II, for Form 26QD, the following Form shall be substituted, namely,–– Form No.26QD
8. In the principal rules, in Appendix II, after Form 26QD, the following Form shall be inserted with effect from 1st July, 2022, namely:–– Form No. 26QE
[Notification No. 67/2022/F. No. 370142/23/2022-TPL] ANKIT JAIN, Under Secy. Note.– The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii) vide notification number S.O. 969 (E), dated the 26th March, 1962 and was last amended vide notification number G.S.R. 458(E) dated 17.06.2022.
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