Now firms can file ITR-4S for presumptive income; CBDT notifies new ITR forms for AY 2016-17 // MONARCH // SUNIL RAJAI

Now firms can file ITR-4S for presumptive income; CBDT notifies new ITR forms for AY 2016-17

INCOME-TAX (NINTH AMENDMENT) RULES, 2016 - AMENDMENT IN RULE 12 AND SUBSTITUTION OF FORMS SAHAJ (ITR-1), ITR-2, ITR-2A, ITR-3, SUGAM (ITR-4S), ITR-4, ITR-5, ITR-6, ITR-7 AND ITR-V

NOTIFICATION NO. SO 1262(E) [NO.24/2016 (F.NO.370142/2/2016-TPL)], DATED 30-3-2016

In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:—

1. (1) These rules may be called the Income-tax (9th Amendment) Rules, 2016.

(2) They shall come into force with effect from the 1st day of April, 2016.

2. In the Income-tax rules, 1962,—

(1) in rule 12,—

(a)

in sub-rule (1),—

(A)		after the word, brackets, figure and letter "sub-section (4E)", the words, brackets, figure and letter "or sub-section (4F)" shall be inserted;
(B)		for the figures "2015", the figures "2016" shall be substituted;
(C)		in clause (ca), after the words "Hindu undivided family", the words "or a firm, other than a limited liability partnership firm," shall be inserted;
(D)		in clause (g), after the word, brackets, figure and letter "sub-section (4E)", the words, brackets, figure and letter "or sub-section (4F)" shall be inserted;

(b)

in sub-rule (5), for the figures "2014", the figures "2015" shall be substituted.

(2) in Appendix-II, for "Forms Sahaj (ITR-1), ITR-2, ITR-2A, ITR-3, Sugam (ITR-4S), ITR-4, ITR-5, ITR-6, ITR-7 and ITR-V", the following forms shall respectively be substituted, namely:—

Forms Sahaj (ITR-1)

ITR-2

ITR-2A

ITR-3

Sugam (ITR-4S)

ITR-4

ITR-5

ITR-6

ITR-7

ITR-V