Income-tax Rules amendment updates Form 2B acknowledgement and requires prior-year income and loss details for block periods. Amendment under section 295 revises Appendix II to the Income-tax Rules, 1962 by omitting the figures '19' and '199' in the acknowledgement and FORM No. 2B, and replaces item 12 with a requirement to provide chronological details of total income and losses of previous years within the block period, including returned/assessed status and whether undisclosed income is included for each year.
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Income-tax Rules amendment updates Form 2B acknowledgement and requires prior-year income and loss details for block periods.
Amendment under section 295 revises Appendix II to the Income-tax Rules, 1962 by omitting the figures "19" and "199" in the acknowledgement and FORM No. 2B, and replaces item 12 with a requirement to provide chronological details of total income and losses of previous years within the block period, including returned/assessed status and whether undisclosed income is included for each year.
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