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<h1>CBDT Issues Relaxation of Validation Rules 2021 u/s 119 of Finance Act 2012 for Income-tax Compliance.</h1> The Central Board of Direct Taxes has issued the Relaxation of Validation Rules, 2021, under section 119 of the Finance Act, 2012. These rules, effective upon publication in the Official Gazette, outline the form and manner of furnishing undertakings as per the Income-tax Act, 1961. They specify that the provisions of rules 11UE and 11UF of the Income-tax Rules, 1962, will apply to certain clauses of section 119 of the Finance Act, 2012. Additionally, conditions specified under rule 11UE will apply to clause (iv) of the first proviso to section 119.