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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] 

1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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] 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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:

 

    1. Write “A” if “lower deduction” or “no deduction” is on account of a certificate under section 197.
    2. 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.
    3. Write “C” if deduction is on higher rate under section 206AA on account of non-furnishing of PAN.
    4. 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.
    1. Write “Y” if no deduction is on account of payment below threshold limit specified in the Income-tax Act, 1961.
    2. Write “T” if no deduction is on account of deductee or payee being transporter. PAN of deductee or payee is mandatory [section 194C(6)].
    3. Write “Z” if no deduction or lower deduction is on account of payment being notified under section 197A(1F).
    4. Write “M” if no deduction or lower deduction is on account of notification issued under second proviso to section 194N.
    5. 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.
    6. Write “O” if no deduction is as per the provisions of sub-section (2A) of section 194LBA.  
    7. 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.
    8. 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.
    9. Write “S” if no deduction is in view of the provisions of sub-section (5) of section 194Q.
    10. Write “T” if the deduction is on higher rate in view of section 206AB for non-filing of return of income.
    11. 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.