Income-tax Rules, 2015 (2nd Amendment)

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Income-tax Rules, 2015 (2nd Amendment), Income Tax Department Issued New Notification Regarding  Income-tax (2nd Amendment), Rules, 2015​. We are providing Full Details of this Notification at Below.

Income-tax Rules, 2015 (2nd Amendment)

[TO BE PUBLSIHED IN THE GAZETTE OF INDIA EXTRAORDINARY, PART
II,SECTION 3, SUB-SECTION (ii)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
[CENTRAL BOARD OF DIRECT TAXES]

Notification
New Delhi, the 4thFebruary, 2015
INCOME – TAX

S.O.350 (E)In exercise of the powers conferred by sections 92CB and 92D read with 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 (2 nd Amendment), Rules, 2015.

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

2. In the Income-tax Rules, 1962, —

(A) in Part-II, in sub-part D relating to special cases,–

      (1) in rule 10 D,–

     (a) after sub-rule (2), the following sub-rule shall be inserted,
namely:-

“(2A) Nothing contained in sub-rule (1), in so far as it relates to an eligible specified domestic transaction referred to in rule 10 THB , shall apply in a case of an eligible assessee referred to in rule 10 THA and, the said eligible assessee, shall keep and maintain the following information and documents, namely:-

(i) a description of the ownership structure of the assessee enterprise with details of shares or other ownership interest held therein by other enterprises;
(ii) a broad description of the business of the assessee and the industry in which the assessee operates, and of the business of the associated enterprises with whom the assessee has transacted;
(iii) the nature and terms (including prices) of specified domestic transactions entered into with each associated

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