Income-tax (8th Amendment) Rules, 2013 - Insertion of Rule 21AC AND FORM NO. 10FC

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....e date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962 (hereafter referred to as the principal rules),- (a) after rule 21AB, the following rule shall be inserted, namely:- "Furnishing of authorisation and maintenance of documents etc. for the purposes of section 94A. 21AC (1) For the purposes of clause (a) of sub-section (3) of section 94A, the authorisation to be submitted by the assessee, shall be in Form No.10 FC. (2) The assessee shall cause the first copy of the duly filled Form No.10FC to be deposited with or transmitted to the financial institution referred to in clause (a) of sub-section (3) of section 94A. (3) The second copy of the Form No.10FC along with the evidence of the first c....

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....a or document, which may be relevant for the transaction with the specified person. (6) The information and documents specified in sub-rule (5) shall be for the period upto the due date of filing of return of income under sub-section (1) of section 139. (7) The information and documents specified in sub-rule (5) shall be kept and maintained for a period of eight years from the end of the relevant assessment year."; (b) In the principal rules, in Appendix-II, after Form No.10FB, the following Form shall be inserted, namely:- "Form No.10FC [See rule 21AC] Authorisation for claiming deduction in respect of any payment made to any financial institution located in a notified jurisdictional area To The Principal Officer,....