Amendment in Form for Furnishing Certificate of Accountant under the First Proviso, Notification Issued on 12-9-2012

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 (11th Amendment) Rules, 2012.

(2) They shall come into force on the date of publication in the Official Gazette.

2. In the Income-tax Rules, 1962, (hereafter referred to as the “said rules”),-

(a)  after rule 31ACA, the following rule shall be inserted, namely:-

“Form for furnishing certificate of accountant under the first proviso to sub-section (1) of section 201

31ACB. The certificate from an accountant under first proviso to sub-section (1) of section 201 shall be furnished in Form No.26A”;

(b)  after rule 37-I, the following rule shall be inserted, namely:-

“Form for furnishing certificate of accountant under first proviso to sub-section (6A) of section 206C

37J. The certificate from an accountant under first proviso to sub-section (6A) of section 206C shall be furnished in Form No. 27BA.”

3. In Appendix-II to the said rules.-

(a) after Form No. 26, the following form shall be inserted, namely.—

“FORM No. 26A

[See rule 31ACB]

Form for furnishing accountant certificate under the first proviso to sub-section (1) of section 201 of the Income-tax Act, 1961

I (name) _________________________ am the person responsible for paying (within the meaning of section 204) in the case of (name of the payer) ______________________ with PAN # (PAN of the payer) __________________________________________ and TAN (TAN of the payer) ______________________ located at  (address of the payer) _______________________ ______________

I do hereby state that I, being the person responsible for paying had paid to/credited to the account of (name of the payee)  _________________ a sum of _____________________ rupees without deduction of whole or any part of the tax

A certificate from an accountant certifying that the payee has fulfilled all the conditions mentioned in the first proviso to sub-section (1) of section 201 of the Income-tax Act, 1961 is enclosed as Annex ‘A’ to this Form

I further state that the interest under sub-section (1A) of section 201 amounting to _______ rupees for non-deduction/short deduction of tax * has been paid by me the details of which are as under –

BSR Code/**24G Receipt Number (first seven digits of BIN)

Challan Serial Number/**DDO Serial Number (last five digits of BIN)

Date of deposit through challan/**date of transfer voucher

  

  

  

or

*has not yet been paid by me

Place

Signature

Date

Designation

 # In case of Government deductors “PAN NOT REQD” should be mentioned

* Delete whichever is not applicable

** For payment made without the production of challan

ANNEXURE A

Certificate of accountant under first proviso to sub-section (1) of section 201 of the Income-tax Act, 1961 for certifying the furnishing of return of income, payment of tax etc. by the payee

I/We *hereby confirm that I/we* have examined the relevant accounts, documents and records of (name and address of the payee with PAN) __________________________________________________ for the period ___________________ and hereby certify the following:

(i) ____________________  (payer) has paid to or credited following sum to the account of ________________ (payee) without deduction of whole or any part of the tax in accordance with the provisions of Chapter-XVII-B

Nature of payment

Date of payment or credit

Section under which tax was deductible

Amount paid or credited

Amount of tax deductible

Details of amount deducted, if any

Amount deducted

Date of deduction

  

  

  

  

  

  

  

  

  

  

  

  

  

  

(ii) The payee, who is a resident, has furnished his return of income for the assessment year ______________ relevant to the payment referred to in (i) above. The details of return of income filed by the payee are as under –

Date of filing return

Mode of filing i.e. whether e-filed or paper return

Acknowledgement number of return filed

If paper return-designation and address of the Assessing Officer

Amount of total taxable income as per return filed

Tax due on the income declared in the return

Details of tax paid

  

  

  

  

  

  

  

(iii) The payee has taken into account the sum referred to in (i) for computing his taxable income in return of income filed by him the details of which are as under –

Receipt on which Tax has not been deducted

Head of Income under which the receipt is accounted for

Gross receipt under the head of income under which the receipt is accounted for

Amount of taxable income under the head of income under which the receipt is accounted for

  

  

  

  

  

  

  

  

  

  

  

  

(iv) It has been ensured that the information furnished is true and correct in all respects and no relevant information has been concealed or withheld

(v) Neither I, nor any of my partners, is a director, partner or an employee of the above mentioned entities or its associated concerns

I/we* fully understand that any statement made in this certificate, if proved incorrect or false, will render me/us* liable for any penal or other consequences as may be prescribed in law or is otherwise warranted

(Signature and Stamp/Seal of the Signatory)

†Accountant

Place

Name of the Signatory

Date

Full Address

  

Membership No.

Notes:

 1.  *Delete whichever is not applicable

 2.  †This certificate is to be given by –

 (i)  a chartered accountant within the meaning of the Chartered Accountants Act, 1949 (38 of 1949); or

(ii)  any person, who in relation to any State, is, by virtue of the provisions in sub-section (2) of section 226 of the Companies Act, 1956 (1 of 1956), entitled to be appointed to act as an auditor of companies registered in that State ”

(b) after Form No. 27B, the following form shall be inserted, namely.—

“FORM No. 27BA

[See rule 37J]

Form for furnishing accountant certificate under first proviso to sub-section (6A) of section 206C of the Income-tax Act, 1961

I. (name) ____________________ am the person responsible for collecting tax under section 206C in the case of (name of the seller/licensor/lessor) ________________________________ with PAN # (PAN of the seller/licensor/lessor) ___________________ and TAN (TAN of the seller licensor/lessor) ____________________ located at (address of the seller/licensor/lessor) _______________

I do hereby state that I, being the person responsible for collecting tax had received from debited to the account of (name of the buyer/licensee/lessee) _________________ a sum of _______________ rupees without collection of whole or any part of tax.

A certificate from accountant certifying that the buyer/licensee/lessee has fulfilled all the conditions mentioned in the first proviso to sub-section (6A) of section 206C of the Income-tax Act, 1961 is enclosed as Annex ‘A’ to this Form.

I, further, state that the interest under sub-section (7) of section 206C amounting to ____________ rupees for non-collection short collection of tax

* has been paid by me, the details of which are as under :-

BSR Code/**24G Receipt Number (first seven digits of BIN)

Challan Serial Number/**DDO Serial Number (last five digits of BIN)

Date of deposit through challan/* *date of transfer voucher

  

  

  

or

*has not yet been paid by me.

Place:

Signature:

Date:

Designation:

# In case of Government deductors, “PAN NOT REQD” should be mentioned.

*Delete whichever is not applicable.

** For payment made without the production of challan by the Government deductor.

ANNEXURE A

Certificate of accountant under first proviso to sub-section (6A) of section 206C of the Income-tax Act, 1961 for certifying the furnishing of return of income, payment of tax etc. by the buyer/licensee/lessee

I/We* hereby confirm that I/we* have examined the relevant accounts, documents and records of (name and address of the buyer/licensee/lessee with PAN) ____________________ for the period _______________ and hereby certify the following:

(i) ______________________________ (seller/licensor/lessor) has received from or debited following sum to the account of _______________________ (buyer/licensee/lessee) without collection of whole or any part of the tax in accordance with the provisions of Chapter -XVII-BB

Nature of Receipt

Date of Receipt or debit

Section under which tax was Collectible

Amount received or debited

Amount tax collectible

Details of amount collected, if any

Amount collected

Date of collection

  

  

  

  

  

  

  

  

  

  

  

  

  

  

(ii) The buyer/licensee/lessee, has furnished his return of income for the assessment year _________________ relevant to the receipt referred to in (i) above. The details of return of income filed by the buyer/licensee/lessee are as under –

Date of filing return

Mode of filing i.e. whether e-filed or paper return

Acknowledgement number of return filed

If paper return-designation and address of the Assessing Officer

Amount of total taxable income as per return filed

Tax due on the income declared in the return

Details of tax paid

  

  

  

  

  

  

  

(iii) The buyer/licensee/lessee has taken into account the sum referred to in (i) for computing his taxable income in return of income filed by him, the details of which are as under:-

Payment on which Tax has not been collected

Head of Income under which the payment is accounted for

Gross payment under the head of income under which the payment is accounted for

Amount of taxable income under the head of income under which the payment is accounted for

  

  

  

  

  

  

  

  

  

  

  

  

(iv) It has been ensured that the information furnished is true and correct in all respects and no relevant information has been concealed or withheld

(v) Neither I, nor any of my partners, is a director, partner or an employee of the above mentioned entities or its associated concerns

I/we* fully understand that any statement made in this certificate, if proved incorrect or false, will render me/us* liable for any penal or other consequences as may be prescribed in law or is otherwise warranted.

(Signature and Stamp/Seal of the Signatory)

†Accountant

Place:

Name of the Signatory…………………………

Date:

Full Address:……………………………………..

  

Membership No…………………………………

Notes:

 1.  *Delete whichever is not applicable.

 2.  †this certificate is to be given by-

 (i)  A chartered accountant within the meaning of the Chartered Accountants Act, 1949 (38 of 1949); or

(ii)  Any person, who in relation to any State, is, by virtue of the provisions in sub-section (2) of section 226 of the Companies Act, 1956 (1 of 1956), entitled to be appointed to act as an auditor of companies registered in that State.”.

Reference: Section 295 of the income Tax Act, 1961

Power to make rules

(1) The Board may, subject to the control of the Central Government, by notification in the Gazette of India, make rules for the whole or any part of India for carrying out the purposes of this Act.

(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters :—

(a)  the ascertainment and determination of any class of income;

(b)  the manner in which and the procedure by which the income shall be arrived at in the case of—

 (i)  income derived in part from agriculture and in part from business;

(ii)  persons residing outside India;

[(iii) an individual who is liable to be assessed under the provisions of sub-section (2) of section 64;

(c)  the determination of the value of any perquisite chargeable to tax under this Act in such manner and on such basis as appears to the Board to be proper and reasonable;

(d)  the percentage on the written down value which may be allowed as depreciation in respect of buildings, machinery, plant or furniture;

(dd) the extent to which, and the conditions subject to which, any expenditure referred to in sub-section (3) of section 37 may be allowed;

(dda) the matters specified in sub-sections (2) and (3) of section 44AA;

(e)  

(ee) the conditions or limitations subject to which any payment of rent made by an assessee shall be deducted under section 80GG;

(eea) the cases, the nature and value of assets, the limits and heads of expenditure and the outgoings, which are required to be prescribed under sub-section (6) of section 139;

(eeb) the time within which any person may apply for the allotment of a permanent account number, the form and the manner in which such application may be made and the particulars which such application shall contain and the transactions with respect to which permanent account numbers shall be quoted on documents relating to such transactions under section 139A;

(eeba) the documents, statements, receipts, certificates or audited reports which may not be furnished along with the return but shall be produced before the Assessing Officer on demand under section 139C;

(eebb) the class or classes of persons who shall be required to furnish the return of income in electronic form; the form and the manner of furnishing the said return in electronic form; documents, statements, receipts, certificates or reports which shall not be furnished with the return in electronic form and the computer resource or electronic record to which such return may be transmitted under section 139D;

(eec) the form of the report of audit and the particulars which such report shall contain under sub-section (2A) of section 142;

(f)  the manner in which and the period to which any such income as is referred to in section 180 may be allocated;

(fa) the form and manner in which the information relating to payment of any sum may be furnished under sub-section (6) of section 195;

(g)  the authority to be prescribed for any of the purposes of this Act;

(h)  the procedure for giving effect to the terms of any agreement for the granting of relief in respect of double taxation or for the avoidance of double taxation which may be entered into by the Central Government under this Act;

(i)  the form and manner in which any application, claim, return or information may be made or furnished and the fees that may be levied in respect of any application or claim;

(j)  the manner in which any document required to be filed under this Act may be verified;

(k) the procedure to be followed on applications for refunds;

(kk) the procedure to be followed in calculating interest payable by assessees or interest payable by Government to assessees under any provision of this Act, including the rounding off of the period for which such interest is to be calculated in cases where such period includes a fraction of a month, and specifying the circumstances in which and the extent to which petty amounts of interest payable by assessees may be ignored;]

(l)  the regulation of any matter for which provision is made in section 230;

(m) the form and manner in which any appeal or cross-objection may be filed under this Act, the fee payable in respect thereof and the manner in which intimation of any such order as is referred to in clause (c) of sub-section (2) of section 249 may be served;

(mm) the circumstances in which, the conditions subject to which and the manner in which, the Commissioner (Appeals) may permit an appellant to produce evidence which he did not produce or which he was not allowed to produce before the Assessing] Officer;

(mma) the form in which the statement under section 285B shall be delivered to the Assessing Officer;

(n)  the maintenance of a register of persons other than legal practitioners or accountants as defined in sub-section (2) of section 288 practising before income-tax authorities and for the constitution of and the procedure to be followed by the authority referred to in sub-section (5) of that section;

(o)  the issue of certificate verifying the payment of tax by assessees;

(p)  any other matter which by this Act is to be, or may be, prescribed.

(3) In cases coming under clause (b) of sub-section (2), where the income liable to tax cannot be definitely ascertained, or can be ascertained only with an amount of trouble and expense to the assessee which in the opinion of the Board is unreasonable, the rules made under this section may—

(a)  prescribe methods by which an estimate of such income may be made; and

(b)  in cases coming under sub-clause (i) of clause (b) of sub-section (2) specify the proportion of the income which shall be deemed to be income liable to tax,

and an assessment based on such estimate or proportion shall be deemed to be duly made in accordance with the provisions of this Act.

(4) The power to make rules conferred by this section shall include the power to give retrospective effect, from a date not earlier than the date of commencement of this Act, to the rules or any of them and, unless the contrary is permitted (whether expressly or by necessary implication), no retrospective effect shall be given to any rule so as to prejudicially affect the interests of assessees.


 

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