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<h1>Income-tax Rules 1962 Amended: Rule 12 Updated for Foreign Assets, Revised ITR Forms Effective April 2018.</h1> The Income-tax (Second Amendment) Rules, 2018, effective from April 1, 2018, amend the Income-tax Rules, 1962. Key changes include updates to rule 12, altering the definition of individuals required to file returns, particularly those with assets or income outside India. The amendment also revises the language related to income sources and updates the forms used for filing returns, including ITR-1 SAHAJ, ITR-2, ITR-3, ITR-4 SUGAM, ITR-5, ITR-6, ITR-7, and ITR-V Acknowledgement. These amendments apply retrospectively to the assessment year starting April 1, 2018, ensuring no adverse effects on taxpayers.