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<h1>Income-tax Rules Amended: New Forms and Thresholds Introduced for 2017; Updates to Rule 12 Explained.</h1> The Income-tax (Fourth Amendment) Rules, 2017, effective from April 1, 2017, amend the Income-tax Rules, 1962. Key changes include updates to Rule 12, such as modifications to income thresholds and tax forms. Individuals or Hindu undivided families with income exceeding fifty lakh rupees or taxable under specific sections must use updated forms. The amendment introduces new forms like ITR-2, ITR-3, and Sugam (ITR-4), while omitting forms like ITR-2A and ITR-4. The notification outlines electronic filing requirements and updates for various forms, ensuring compliance with the Income-tax Act, 1961.