MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 20th July, 2018
G.S.R. 666(E). – In exercise of the powers conferred by section 44AB read with section 295 of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the Income-tax Act), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:—
- (1) These rules may be called the Income–tax (8th Amendment) Rules, 2018.
(2) They shall come into force from the 20th day of August, 2018.
- In the Income-tax Rules, 1962, in Appendix II, in Form No. 3CD,-
- in serial number 4,-
- after the words “sales tax,”, the words “goods and services tax,” shall be inserted;
- after the words “registration number or”, the words “GST number or” shall be inserted;
- in serial number 19, in the table, after the row with entry “32AC”, the row with entry “32AD” shall be inserted;
- in serial number 24, after the words “32AC or”, the words “32AD or” shall be inserted;
- in serial number 26, for the words “or (f)”, the words “, (f) or (g)” shall be substituted;
- after serial number 29 and the entries relating thereto, the following shall be inserted, namely:-
“29A. (a) Whether any amount is to be included as income chargeable under the head ‘income from other sources’ as referred to in clause (ix) of sub-section (2) of section 56? (Yes/No)
(b) If yes, please furnish the following details:
- Nature of income:
6 .THE GAZETTE OF INDIA : EXTRAORDINARY[PART II—SEC. 3(i)]
- Amount thereof:
29B. (a) Whether any amount is to be included as income chargeable under the head ‘income from other sources’ as referred to in clause (x) of sub-section (2) of section 56? (Yes/No)
(b) If yes, please furnish the following details:
- Nature of income:
- Amount (in Rs.) thereof:”;
- after serial number 30 and the entries relating thereto, the following shall be inserted, namely:-
“30A. (a) Whether primary adjustment to transfer price, as referred to in sub-section (1) of section 92CE, has been made during the previous year? (Yes/No)
(b) If yes, please furnish the following details:-
- Under which clause of sub-section (1) of section 92CE primary adjustment is made?
- Amount (in Rs.) of primary adjustment:
- Whether the excess money available with the associated enterprise is required to be repatriated to India as per the provisions of sub-section (2) of section 92CE? (Yes/No)
- If yes, whether the excess money has been repatriated within the prescribed time (Yes/No)
- If no, the amount (in Rs.) of imputed interest income on such excess money which has not been repatriated within the prescribed time:
30B. (a) Whether the assessee has incurred expenditure during the previous year by way of interest or of similar nature exceeding one crore rupees as referred to in sub-section (1) of section 94B? (Yes/No)
(b) If yes, please furnish the following details:-
- Amount (in Rs.) of expenditure by way of interest or of similar nature incurred:
- Earnings before interest, tax, depreciation and amortization (EBITDA) during the previous year (in Rs.):
- Amount (in Rs.) of expenditure by way of interest or of similar nature as per (i) above which exceeds 30% of EBITDA as per (ii) above:
- Details of interest expenditure brought forward as per sub-section (4) of section 94B:
| A.Y. | Amount (in Rs.) |
- Details of interest expenditure carried forward as per sub-section (4) of section 94B:
| A.Y. | Amount (in Rs.) |
30C. (a) Whether the assessee has entered into an impermissible avoidance arrangement, as referred to in section 96, during the previous year? (Yes/No)
- If yes, please specify:-
- Nature of the impermissible avoidance arrangement:
- Amount (in Rs.) of tax benefit in the previous year arising, in aggregate, to all the parties to the arrangement:”;
- in serial number 31,-
- after clause (b), the following clauses and entries relating thereto shall be inserted, namely:-
“(ba) Particulars of each receipt in an amount exceeding the limit specified in section 269ST, in aggregate from a person in a day or in respect of a single transaction or in respect of transactions relating to one event or
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occasion from a person, during the previous year, where such receipt is otherwise than by a cheque or bank draft or use of electronic clearing system through a bank account:-
- Name, address and Permanent Account Number (if available with the assessee) of the payer;
- Nature of transaction;
- Amount of receipt (in Rs.);
- Date of receipt;
(bb) Particulars of each receipt in an amount exceeding the limit specified in section 269ST, in aggregate from a person in a day or in respect of a single transaction or in respect of transactions relating to one event or occasion from a person, received by a cheque or bank draft, not being an account payee cheque or an account payee bank draft, during the previous year:—
- Name, address and Permanent Account Number (if available with the assessee) of the payer;
- Amount of receipt (in Rs.);
(bc) Particulars of each payment made in an amount exceeding the limit specified in section 269ST, in aggregate to a person in a day or in respect of a single transaction or in respect of transactions relating to one event or occasion to a person, otherwise than by a cheque or bank draft or use of electronic clearing system through a bank account during the previous year:-
- Name, address and Permanent Account Number (if available with the assessee) of the payee;
- Nature of transaction;
- Amount of payment (in Rs.);
- Date of payment;
(bd) Particulars of each payment in an amount exceeding the limit specified in section 269ST, in aggregate to a person in a day or in respect of a single transaction or in respect of transactions relating to one event or occasion to a person, made by a cheque or bank draft, not being an account payee cheque or an account payee bank draft, during the previous year:—
- Name, address and Permanent Account Number (if available with the assessee) of the payee;
- Amount of payment (in Rs.);
(Particulars at (ba), (bb), (bc) and (bd) need not be given in the case of receipt by or payment to a Government company, a banking Company, a post office savings bank, a cooperative bank or in the case of transactions referred to in section 269SS or in the case of persons referred to in Notification No. S.O. 2065(E) dated 3rd July, 2017)”;
- in item (c), in sub-item (v), for the words “taken or accepted”, the word “repaid” shall be substituted;
- in item (d), in sub-item (ii), after the words “amount of”, the words “repayment of” shall be inserted;
- in item (e), in sub-item (ii), after the words, “amount of”, the words “repayment of” shall be inserted;
- in serial number 34, for item (b), the following item shall be substituted, namely:-
“(b) whether the assessee is required to furnish the statement of tax deducted or tax collected. If yes, please furnish the details:
| Tax deduction and collection Account Number (TAN) | Type of Form | Due date for furnishing | Date of furnishing, if furnished | Whether the statement of tax deducted or collected contains information about all details/transactions which are required to be reported. If not, please furnish list of details/transactions which are not reported.”; |
- after serial number 36 and the entries relating thereto, the following shall be inserted, namely:-
“36A. (a) Whether the assessee has received any amount in the nature of dividend as referred to in sub-clause (e) of clause (22) of section 2? (Yes/No)
8 .THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
- If yes, please furnish the following details:-
- Amount received (in Rs.):
- Date of receipt:”;
- after serial number 41 and the entries relating thereto, the following shall be inserted, namely:-
“42. (a) Whether the assessee is required to furnish statement in Form No.61 or Form No. 61A or Form No. 61B? (Yes/No)
(b) If yes, please furnish:
| Income-tax Department Reporting Entity Identification Number | Type of Form | Due date for furnishing | Date of furnishing, if furnished | Whether the Form contains information about all details/ transactions which are required to be reported. If not, please furnish list of the details/transactions which are not reported. |
- (a) Whether the assessee or its parent entity or alternate reporting entity is liable to furnish the report as referred to in sub-section (2) of section 286 (Yes/No)
- if yes, please furnish the following details:
- Whether report has been furnished by the assessee or its parent entity or an alternate reporting entity
- Name of parent entity
- Name of alternate reporting entity (if applicable)
- Date of furnishing of report
- Break-up of total expenditure of entities registered or not registered under the GST:
| Sl. No. | Total amount of Expenditure incurred during the year | Expenditure in respect of entities registered under GST | Expenditure relating to entities not registered under GST | |||
| Relating to goods or services exempt from GST | Relating to entities falling under composition scheme | Relating to other registered entities | Total payment to registered entities | |||
| (1) | (2) | (3) | (4) | (5) | (6) | (7)” |
[Notification No. 33/2018/F.No. 370142/9/2018-TPL]
PITAMBAR DAS,
Director (Tax Policy and Legislation)
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 of March, 1962 and were last amended vide notification number G.S.R 647 (E) dated 13.07.2018.
