Taxmann Master Guide To Income tax Rules – 29th Edition 2022

This unique book provides an in-depth Rule-wise commentary on the Income Tax Rules, 1962.

The Present Publication is the 29^th Edition, incorporating all the amendments till the Income-tax (Second Amendment) Rules, 2022. Taxmann’s Editorial Board authors this book with the following coverage:

• [Detailed Analysis] on every Rule of Income Tax Rules, 1962
• [Statutory Background of the Section] which delegates the power to the Central Board of Direct Taxes to notify the Rule
• [Simplified Language] to explain each provision of the Rules
• [Gist of All Circulars and Notifications] issued by the Department in each Rule, which are still in force
• [Income-tax Compliances] to be done in each Rule

The detailed coverage of the book is as follows:

• Rule 2A – House rent allowance
• Rule 2B – Leave travel concession
• Rule 2BA – Amount received on voluntary retirement
• Rule 2BB – Special allowances Rule 2BBA – Family pension to heirs of members of Armed Forces
• Rule 2BBB – Percentage of Govt. grant for considering university, etc., as substantially financed by Govt. for purposes of section 10(23C)
• Rule 2BC – Exemption for income of universities/educational institutions/hospitals, etc.
• Rule 2C – Charitable or religious institutions/Educational institutions/Hospitals
• Rule 2DB & 2DC – Sovereign Wealth Fund/Pension Fund
• Rule 2DD – Computation of exempt income of Specified Fund for the purposes of section 10(23FF)
• Rule 2F – Guidelines for setting up Infrastructure Debt Fund
• Rule 3 – Valuation of perquisites
• Rule 3A – Exemption to medical benefits/perquisites
• Rule 3B – Provident Fund, Annual Accretion referred to in section 17(2)(viia)
• Rule 4 – Unrealised rent
• Rule 5 – Depreciation
• Rule 5AC – Tea/Coffee/Rubber development account
• Rule 5AD – Site restoration fund
• Rule 5C to 5E – Scientific Research Associations – Guidelines, conditions, etc., in respect of approval under clauses (ii) and (iii) of section 35(1)
• Rule 5CA – Scientific Research Associations – Intimation under fifth proviso to section 35(1)
• Rule 5F – Scientific Research Associations – Guidelines, conditions, etc., in respect of approval under clause (iia) of section 35(1)
• Rule 5G – Tax on income from patent
• Rule 6 – Scientific research, expenditure on
• Rule 6A – Expenditure for obtaining right to use spectrum for telecommunication services
• Rule 6AAC – Expenditure on conservation of natural resources
• Rule 6AAD & AAE – Agricultural extension project
• Rule 6AAF & AAH – Skill development project
• Rule 6AB – Amortisation of preliminary expenses, etc.
• Rule 6ABA – Provision for bad and doubtful debts
• Rule 6ABAA – Conditions for being notified as infrastructural facility
• Rule 6ABBA – Other electronic modes
• Rule 6DD – Disallowance of cash payment
• Rule 6DDA & DDB – Speculative transactions – Derivatives
• Rule 6E – Insurance business – Reserves for unexpired
  risks
• Rule 6EA & EB – Categories of bad or doubtful debts in case of public company
• Rule 6F – Maintenance of books of account
• Rule 6G – Report of audit of accounts under section 44AB
• Rule 6GA – Computation of income by way of royalties,
  etc., in case of non-residents
• Rule 6H – Computation of capital gains in case of
  slump sale
• Rule 7 – Income which is partially agricultural and partially from business
• Rule 7A – Income from the manufacture of rubber
• Rule 7B – Income from the manufacture of coffee
• Rule 8 – Income from manufacture of tea
• Rule 8AA – Capital Assets
• Rule 8AB – Capital gains, attribution of income taxable under section 45(4) to capital assets remaining with specified entity, under section 48
• Rule 8AC – Capital gains: Computation of short-term capital gains and written down value under section 50 where depreciation on goodwill has been obtained
• Rule 8AD – Capital gains, Computation for the purposes of section 45(1B)
• Rule 8B & 8C – Zero-Coupon Bonds
• Rule 8D – Method for determining amount of expenditure in relation to income not includible in total income
• Rule 9A & 9B – Amortisation of expenditure on feature films
• Rule 9C – Carry forward and set off of accumulated loss and unabsorbed depreciation allowance in case of amalgamation
• Rule 9D – Provident Fund/Recognised Provident Fund
• Rule 10 – Determination of income in case of non-residents
• Rule 10A to 10THD – Transfer Pricing
• Rule 10DB – Furnishing of report in respect of International Group
• Rule 10RB – Minimum Alternate Tax
• Rule 10U to 10UF – General Anti-Avoidance Rules
• Rule 10V to 10VB – Certain activities not to constitute business connection in India
• Rule 11A – Deductions to persons with disability or severe disability
• Rule 11AA – Donation to charitable trusts, etc. requirement for approval of institution of fund under section 80G(5)(vi)
• Rule 11B – Deduction in respect of rents paid
• Rule 11DD – Deduction in respect of medical treatment for specified diseases
• Rule 11EA – Deduction to industrial undertakings located in industrially backward districts
• Rule 11F to 11-O – National committee for promotion of social and economic welfare
• Rule 11-OA – Guidelines for notification of affordable housing project as specified business under section 35AD
• Rule 11-OB – Guidelines for notification of a semi-conductor wafer fabrication manufacturing unit as specified business under section 35AD
• Rule 11P to 11T – Tonnage Tax Scheme for Shipping Companies
• Rule 11U & 11UA(1) – Valuation of gifts
• Rule 11UA(2) – Start-ups
• Rule 11UAA – Special provision for full value of consideration for transfer of share other than quoted share
• Rule 11UAB – Determination of fair market value of inventory
• Rule 11UAC – Prescribed class of persons for the purpose of clause (XI) of the proviso to clause (x) of sub-section (2) of section 56
• Rule 11UAD – Prescribed class of persons for the purpose of section 50CA
• Rule 11UAE – Slump Sale
• Rule 11UB & 11UC – Indirect transfer – Manner of determination of Fair Market Value & reporting requirement for Indian concern
• Rule 11UD – Income deemed to accrue or arise in India – Threshold for purpose of significant economic presence
• Rule 11UE & UF – Income deemed to accrue or arise in India – Specified conditions under Explanation to fifth/sixth proviso to Explanation 5 to section 9(1)(i)
• Rule 12 – Return of income
• Rule 12A – Preparation of return by authorised representative
• Rule 12AA – Return of income, signing of
• Rule 12C – Tax on income received from Venture Capital Companies/Funds
• Rule 12CA – Business Trust
• Rule 12CB – Investment Fund
• Rule 12CC – Securitization Trust
• Rule 12D – Power to call for information by prescribed Income-tax Authority
• Rule 12E – Prescribed authority under section 143(2)
• Rule 12F – Prescribed Income-tax Authority under second proviso to section 142(1)(i)
• Rule 14 – Inquiry before assessment – Form of verification
• Rule 14A – Inquiry before assessment – Special Audit
• Rule 14B – Guidelines for purposes of determining expenses for Special Audit
• Rule 14C – Faceless assessment: Prescribed manner of authentication of an electronic record under electronic verification code under section 144B(7)(i)(b)
• Rule 15 – Notice of demand
• Rule 16 – Avoidance of repetitive appeals
• Rule 16B – Exemption in respect of remuneration to consultants, etc.
• Rule 16C – Exemption to Employees’ Welfare Funds
• Rule 16CC – Audit report to be furnished by certain entities referred to in section 10(23C)
• Rule 16DD – Free Trade Zones, industrial undertakings in
• Rule 17 – Exercise of option under section 11
• Rule 17A & 17B – Application for Registration of Charitable or religious trust etc.
• Rule 17C – Modes of investment by charitable/religious
  trusts
• Rule 17CA – Electoral Trust
• Rule 17CB – Tax on accreted income of a trust
• Rule 18AAA – Donations to universities/educational institutions
• Rule 18AAAAA – Deduction on donations to games/sports associations/institutions
• Rule 18AB – Furnishing of statement of particulars and certificate under section 80G(5)(viii)/(ix) or under section 35(1A)
• Rule 18BBB – Deductions to undertakings, hotels, etc.
• Rule 18BBE – Deduction from profits of certain activities forming part of a Highway Project
• Rule 18C – Deduction to undertakings operating notified industrial parks
• Rule 19AB – Deduction in respect of employment of new workmen
• Rule 19AC – Deduction in respect of royalty income, etc., of authors of certain books other than text books
• Rule 19AD – Deduction in respect of royalty on patents
• Rule 19AE – Deduction in respect of certain incomes of Offshore Banking Unit
• Rule 20 & 20A – Deduction under section 80C(2)(xix) and (xx)
• Rule 21A – Relief when salary is received in arrears or in advance
• Rule 21AA – Relief on salary in the case of specified employees
• Rule 21AB – Tax Residency Certificate for claiming double taxation relief
• Rule 21AC – Transactions with persons located in notified jurisdictional areas
• Rule 21AD – Tax on income of certain manufacturing domestic companies
• Rule 21AE & 21AF – Tax on income of certain domestic companies/new manufacturing domestic companies
• Rule 21AG – Tax on income of Individuals & HUFs
• Rule 21AH – Tax on income of certain resident Co-operative societies
• Rule 21AI – Computation of exempt income of specified fund under section 10(4D)
• Rule 21AJ – Foreign institutional investor: Determination of income of specified fund attributable to units held by non-residents under section 115AD(1A)
• Rule 21AJA & 21AJAA – Computation of exempt income of specified fund attributable to the investment banking division of an offshore banking unit for purposes of section 10(4D)/Determination of income of specified fund attributable to investment division of an offshore banking unit under section 115AD(1B)
• Rule 21AK – Non-deliverable Forward Contracts/offshore derivative instruments or counter derivatives
• Rule 26 to 37BC – Deduction of tax at source
• Rule 37C to 37J – Collection of tax at source
• Rule 29A – Deduction in respect of certain items of receipts from foreign sources
• Rule 38 – Notice of demand for advance tax
• Rule 39 – Estimate of advance tax
• Rule 40B – Minimum alternate tax for companies
• Rule 40BA – Alternate Minimum Tax for Limited Liability Partnerships
• Rule 40BB – Tax on distributed income of domestic company for buy-back of shares
• Rule 42 to 44 – Tax clearance certificate
• Rule 44C, 44CA & 44D – Settlement Commission
• Rule 44DA – Settlement Commission: Exercise of option to withdraw application pending before Settlement Commission
• Rule 44E & 44F – Advance rulings
• Rule 44G – Mutual Agreement Procedure
• Rule 45 to 46A – Appeal to Commissioner (Appeals)
• Rule 47 – Appeal to Appellate Tribunal
• Rule 49 to 66 – Authorised representative
• Rule 67 to 81 – Recognised provident funds
• Rule 82 to 97 – Approved superannuation funds
• Rule 98 to 111 – Approved gratuity funds
• Rule 111A & 111AB – Conditions for reference to Valuation Officer
• Rule 111B – Publication and circulation of Board’s order
• Rule 112 to 112C – Search and seizure
• Rule 112D – Requisition of books of account, etc.
• Rule 112E – Collection of information
• Rule 112F – Search cases where compulsory reopening of past six years not required
• Rule 113 – Disclosure of information respecting assessees
• Rule 114 – Permanent Account Number
• Rule 114A – Tax Deduction and Collection Account Number
• Rule 114AA – Tax Collection Account Number
• Rule 114AAA – Aadhaar Number, Quoting of
• Rule 114AAB – Permanent Account Number – Class or classes of persons to whom PAN provisions not applicable
• Rule 114B to 114D – Quoting of Permanent Account Number or Aadhaar number in documents pertaining to certain prescribed transactions
• Rule 114DA – Furnishing of annual statement by a non-resident having liaison office in India
• Rule 114DB – Furnishing of information or documents by Indian concern in certain cases
• Rule 114E to 114H – Obligation to furnish/statement of financial transaction or reportable account
• Rule 114-I – Annual Information Statement
• Rule 115 – Rate of exchange for conversion of income in foreign currency
• Rule 115A – Computation of capital gains on transfer of shares/debentures by non-residents
• Rule 117B & 117C – Certificate to Tax Recovery Officer
• Rule 119A – Procedure for calculation of interest
• Rule 119AA – Acceptance of payment through prescribed electronic modes
• Rule 121A – Statement by producers of cinematograph films
• Rule 125 – Electronic payment of tax
• Rule 126 – Residential status
• Rule 127 – Service of notice
• Rule 127A – Authentication of notices and other documents
• Rule 128 – Foreign Tax Credit
• Rule 129 – Immunity from prosecution under section 270AA
• Rule 131 – Electronic furnishing of returns, etc.