Income Tax (14th Amendment) Rules, 2020

Jun 30, 2020 | by Avantis RegTech Legal Research Team


Finance & Taxation Compliance

The Central Board of Direct Taxes (CBDT) on June 29, 2020, publishes the Income Tax (14th Amendment) Rules, 2020, to further amend the Income Tax Rules, 1962. These rules shall be implemented from April 1, 2020 and shall be applicable for the financial year 2021-22.

Following is the amendment to Income Tax Rules, 1962:

Rule 11UAC has been substituted, which relates to the right of ownership for the purpose of mortgage along with all the documents, following class of persons shall be excluded from the provision for sub-section (2) the government regularised the transactions of such immovable property.

[Notification No: G.S.R. 421 (E)]


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