TaxTMI 
TaxTMI 
Income-tax (Ninteenth Amendment) Rules, 2023.
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....shall come into force with effect from the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962 (hereinafter referred as the Principal Rules), after rule 12F, the following rule shall be inserted, namely:- "13. Procedure to requisition services under sub-section (2) and to make a reference under sub-section (9D) of section 132.-- (1) Every Principal Chief Commissioner or the Chief Commissioner or the Principal Director General or the Director General, as the case may be, may approve-- (i) any person or entity whose services may be requisitioned for the purposes of clause (ii) of sub-section (2) of section 132; or (ii) any person or entity or registered valuer to whom reference may....
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....on (2) or clause (ii) of sub-section (9D) of section 132, in a case where the authorised officer considers it necessary or expedient to do so, he may requisition the services of or make a reference to a person or entity or registered valuer who is not approved as per sub-rule (1), after recording reasons for the same, and within a period of thirty days of such requisition, obtain approval of the Principal Chief Commissioner or the Chief Commissioner or the Principal Director General or the Director General, as the case may be. Explanation 1.- For the purposes of this rule, "registered valuer" means any valuer registered by or under any law for the time being in force. Explanation 2.- For the purposes of sub-rule (5) of thi....
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.... property would ordinarily fetch on sale in the open market on the date(s) on which such property is required to be valued as per the reference made under sub-section (9D) of section 132. (2) The person or entity or registered valuer, to whom the reference for valuation has been made by the authorised officer under the provisions of sub-section (9D) of section 132 shall submit the report of valuation in Form No. 6CA to such authorised officer. Explanation.- For the purposes of this rule, "registered valuer" means any valuer registered by or under any law for the time being in force. 3. In the Income-tax Rules, 1962, in Appendix II, after Form No. 6B, the following Forms shall be inserted, namely:- "FORM No. 6C [Se....
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....ector/any other designation] of the entity named .................. [strike off if not applicable] and I am authorised to furnish and verify this form. Date............... Place.............. (Signature of applicant/authorised signatory) Name..................... PAN of authorised signatory (if applicable)...................... Note 1: Nature of Services proposed to be provided and relevant Qualification:- (i) a translator; (ii) a person or entity or registered valuer providing assistance in forensic analysis or data mining of digital data; (iii) a manager or officer of a banking company or co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949) applies (including any bank or ban....
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....ncy who must have been in practice as an actuary under the Insurance Act, 1938 (4 of 1938); (xii) any other person, as is necessary having regard to the local area considerations. FORM No. 6CA [See rule 13A] Report under section 132(9D) of the Income Tax Act, 1961 I/We, having Designated Approval Number ____________[issued as per rule 13(5)], have determined the fair market value of _____________________[specifications of the property being valued] belonging to __________________[name of the assessee] having permanent account number(PAN)_________, as located at _____________________[address of the assessee] in consequence of reference made under sub-section (9D) of section 132 of the Income tax Act, 1961 by the authoris....