Rule 12 of Income Tax Rules wef 01.04.2022 | ITR | AY 2022-23

1. RULE12OFINCOMETAXRULESWEF 01.04.2022|ITR|AY2022-23 • https://taxguru.in/income-tax/rule-12-income-tax-rules-wef-01-04-2022-itr-ay-2022-23.html • Taxguru Team compiled Rule 12 of Income Tax Rules considering amendment vide Notification No. 21/2022-Income Tax Dated: 30/03/2022and Notification No. 23/2022-Income Tax Dated: 1/04/2022for readyreference of ourreaders. Changes are Markedin Red Coloure. • Revised Rule 12 of Income Tax Rules are applicable from 01.04.2022i.e. for Income Tax Return of AssessmentYear2022-23 and FinancialYear 2021-22. • Rule12-Returnofincomeandreturnoffringebenefits. • (1)Thereturnofincomerequiredtobefurnishedundersub-section(1)orsub-section(3)orsub-section (4A)orsub-section(4B)orsub-section(4C)orsub-section(4D)orsub-section(4E)orsub-section(4F)of section139orclause(i)ofsub-section(1)ofsection142orsection148orsection153Arelatingtothe assessmentyear commencing on the1st day of April,2022 shall,— • inthecaseofapersonbeinganindividualwhoisaresidentotherthannotordinarilyresidentand • wherethetotalincomeincludesincomechargeabletoincome-tax,underthehead,— • “Salaries“orincomeinthenatureoffamilypensionasdefinedintheExplanationtoclause(iia)of section57; or • “Incomefromhouseproperty”,whereassesseedoesnotownmorethanonehousepropertyand doesnothave anybrought forwardloss orloss tobe carriedforward underthe head;or • “Incomefromothersources“,exceptwinningsfromlotteryorincomefromracehorsesanddoes nothave any loss under thehead, • beinFormSAHAJ(ITR-1)andbeverifiedinthemannerindicatedtherein: • Providedthattheprovisionsofthisclauseshallnotapplytoapersonwho,— • hasassets(includingfinancialinterestinanyentity)locatedoutsideIndia; (IA)hassigning authorityinany accountlocatedoutside India; • (IB)hasincomefromanysourceoutsideIndia; • (IC)hasincometobeapportionedinaccordancewithprovisionsofsection5A

2. (ID)hasclaimeddeductionundersection57,otherthandeductionclaimedunderclause(iia) thereof; • (IE)isadirectorinanycompany; • (IF)hasheldanyunlistedequityshareatanytimeduringthepreviousyear; • (IG)isassessableforthewholeoranypartoftheincomeonwhichtaxhasbeendeductedat sourcein the handsof a person otherthan the assesse; • hasclaimedanyreliefoftaxundersection90or90Aordeductionoftaxundersection91; • hasagriculturalincome,exceedingfivethousandrupees; • has total income, exceeding fifty lakh rupees; (V)hasincometaxableundersection115BBDAor • hasincomeofthenaturereferredtoinsection115BBE; • isapersoninwhosecasetaxhasbeendeductedundersection194N;or • isapersoninwhosecasepaymentordeductionoftaxhasbeendeferredundersub- section(2) ofsection 191 orsub-section (1C) ofsection 192; • [***] omitted (ba)[***]omitted • inthecaseofapersonbeinganindividualnotbeinganindividualtowhomclause(a)appliesofa Hindu undivided family where the total income does not include income under the head business or profession,be inForm No. ITR-2and be verifiedin the mannerindicated therein; • (ca) in the case of a person being an individual or a Hindu undivided family, who is a resident other than not ordinarily resident, or a firm, other than limited liability partnership firm, which is a resident, deriving“incomeundertheheadProfitsorgainsofbusinessorprofession”andsuchincomeiscomputed in accordance with special provisions referred to in section 44AD, section 44ADA and section 44AE of the Act for computation of such income, be in Form SUGAM (ITR-4) and be verified in the manner indicated therein: • Providedthattheprovisionsofthisclauseshallnotapplytoapersonwho,— • hasassets(includingfinancialinterestinanyentity)locatedoutsideIndia; (IA)hassigning authorityinany accountlocatedoutside India; • (IB)hasincomefromanysourceoutsideIndia; • (IC)hasincometobeapportionedinaccordancewithprovisionsofsection5A; (ID)is a directorin any company; • (IE)hasheldanyunlistedequityshareatanytimeduringthepreviousyear;

3. (IF)hastotalincome,exceedingfiftylakhrupees; (IG)ownsmorethanonehouseproperty,theincomeofwhichischargeableunderthehead“Income fromhouse property”; (IH)hasanybroughtforwardlossorlosstobecarriedforwardunderanyheadofincome; (IJ)isassessableforthewholeoranypartoftheincomeonwhichtaxhasbeendeductedatsource inthe hands of aperson other than the assesse; hasclaimedanyreliefoftaxundersection90or90Aordeductionoftaxundersection91; hasagriculturalincome,exceedingfivethousandrupees; hasincometaxableundersection115BBDA;or hasincomeofthenaturereferredtoinsection115BBE; hasincomeofthenaturespecifiedinclause(vi)ofsub-section(2)ofsection17onwhichtaxis payable or deductible, as the case may be, under sub-section (2) of section 191 or sub-section (1C) ofsection 192;. in the case of a person being an individual or a Hindu undivided family other than the individual or Hindu undivided family referred to in clause (a) or clause (c) or clause (ca) and having income under the headbusinessor profession,bein FormNo.ITR-3and beverifiedin themannerindicated therein; inthecaseofapersonnotbeinganindividualoraHinduundividedfamilyoracompanyor apersonto whichclause(g) applies,be inForm No.ITR-5 andbe verifiedinthe mannerindicated therein; in the case of a company not being a company to which clause (g) applies, be in Form No. ITR-6 and be verifiedin the manner indicated therein; inthecaseofapersonincludingacompanywhetherornotregisteredundersection25ofthe CompaniesAct,1956(1of1956),requiredtofileareturnundersub-section(4A)orsub-section(4B)or sub-section(4C)orsub-section(4D)orsub-section(4E)orsub-section(4F)ofsection139,beinFormNo. ITR-7and be verified inthe manner indicated therein;

4. The return of income required to be furnished in FormSAHAJ (ITR-1) or Form No. ITR-2 or Form No. ITR-3 or Form SUGAM (ITR-4) or Form No. ITR-5 or Form No. ITR-6 or Form No. ITR-7shall not be accompaniedbyastatementshowingthecomputationofthetaxpayableonthebasisofthereturn,orproofof the tax, if any, claimed to have been deducted or collected at source or the advance tax or tax on self-assessment, if any, claimed to have been paid or any document or copy of any account or form or report of audit required to beattached with thereturn of income underany of theprovisions of the Act: Providedthatwhereanassesseeisrequiredtofurnishareportofauditspecifiedundersub-clause(iv),(v),(vi) or (via) of clause (23C) of section 10, section 10A , section 10AA, clause (b) of sub-section (1) of section 12A, section 44AB , section 44DA, section 50B, section 80-IA, section 80-IB, section 80-IC, section 80-ID, section 80JJAA, section 80LA, section 92E, section 115JB, section 115JC or section 115VW or to give a notice under clause(a) ofsub-section (2)of section 11of theAct, he shallfurnish thesame electronically. Thereturnofincomereferredtoinsub-rule(1)shallbefurnishedbyapersonmentionedincolumn(ii)of the Table below to whom the conditions specified in column (iii) apply, in the manner specified in column (iv) thereof:— TABLE Individualor (a)Accountsarerequiredtobeauditedunder 1 Electronicallyunderdigitalsignature; Hinduundividedsection44ABoftheAct; family

5. (A)Electronicallyunderdigitalsignature;o (b)Wheretotalincomeassessableunderthe (B)Transmittingthedataelectronicallyinth Actduringthepreviousyearofaperson,beingreturnunderelectronicverificationcode;or anindividualoftheageofeightyyearsor moreatanytimeduringthepreviousyear,and(C)Transmittingthedatainthereturn who furnishes the return in Form number SAHAJ(ITR-1)orFormnumberSUGAM (ITR-4). electronically and thereafter submitting the verificationofthereturninFormITR-V;or (D)Paperform; Electronicallyunderdigitalsignature;o Transmittingthedataelectronicallyinth returnunderelectronicverificationcode;or (c)inAnyothercases (C) Transmitting the data in the return electronicallyandthereaftersubmittingthe verificationofthereturninFormITR-V; 2 Company A person required to furnish the returninForm ITR-7 Inallcases. Electronicallyunderdigitalsignature. (a)Incaseofapoliticalparty; Electronicallyunderdigitalsignature; 3 (A)Electronicallyunderdigitalsignature;o Transmitting the data in the return electronicallyunderelectronicverification code;or Transmitting the data in the return electronicallyandthereaftersubmittingthe verificationofthereturninFormITR-V. (b)Inanyothercase (a)Accountsarerequiredtobeauditedunder section44ABof theAct; Firm or limited liability partnership or any person (other than a person mentionedinSl. 1 to 3 above) who is required to file return in FormITR-5 Electronicallyunderdigitalsignature; 4 (A)Electronicallyunderdigitalsignature;o (b)Inanyothercase. Transmitting the data in the return electronicallyunderelectronicverification code;or Transmitting the data in the return electronicallyandthereaftersubmittingthe verificationofthereturninFormITR-V.

6. Explanation.—For the purposes of this sub-rule “electronic verification code” means a code generated for the purpose of electronic verification of the person furnishing the return of income as per the data structure and standards specified by Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems). The Principal Director-General of Income-tax (Systems) or Director-General of Income-tax (Systems) shall specify the procedures, formats and standards for ensuring secure capture and transmission of data and shall also be responsible for evolving and implementing appropriate security, archival and retrieval policies in relation to furnishing the returns in the manners (other than the paper form) specified in column (iv) of the Table in sub- rule(3)and thereport of auditor notice inthe mannerspecified in provisoto sub-rule (2). Where a return of income relates to the assessment year commencing on the 1st day of April, 2021 or any earlierassessmentyear,it shallbefurnished intheappropriate formasapplicable inthatassessment year. OurCompilationofRule12forEarlierAssessmentYears AssessmentYear 2021-22 LinktoRule12ApplicableforthatAssessmentYear Rule12ofIncomeTaxRuleswef01.04.2021|ITR|AY2021-22 2020-21 Rule12ofIncomeTaxRuleswef29.05.2020|ITR|AY2020-21 2019-20 2018-19 2017-18 2016-17 2015-16 2014-15 2013-14 2012-13 Rule12ofIncomeTaxRuleswef1stApril2019relatedtoITRofAY2019-20 Rule12of IncomeTax Ruleswef 1stApril 2018related toITR Rule12ofIncomeTaxRuleswef1stApril2017relatedtoITR Rule12of IncomeTax Ruleswef1st April2016 Rule12ofIncomeTaxRuleswef1stApril2015 Rule12ofIncomeTaxRuleswef01.04.2014–FilingofAuditReports&ITR RevisedIncomeTax Rule12 relatedto ITRfor A.Y.2013-14 RevisedRule12SpecifyingApplicableITRandmodeofReturnFilingforAY2012-13