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<h1>New Rule 19AE: Offshore Banking Units Must Report Income in Form 10CCF u/s 80LA(3.</h1> The Income-tax (26th Amendment) Rules, 2003, issued on November 13, 2003, by the Central Board of Direct Taxes, amends the Income-tax Rules, 1962. It introduces Rule 19AE, which requires assessees to furnish a report by an accountant in Form No. 10CCF under section 80LA(3) of the Income-tax Act, 1961. This form is to be used for reporting income from Offshore Banking Units located in Special Economic Zones. The form includes details such as the assessee's name, assessment year, Permanent Account Number, and gross income, with deductions for income not received in convertible foreign exchange and related expenses.