Income-tax (7th Amendment) Rules, 2014

Notification No. 33/2014, F.No.133/1/2014-TPL, dated 25th July, 2014

S.O. 1902 (E):- In exercise of the powers conferred by section 295 read with section 44AB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:—

1. (1) These rules may be called the Income-tax (7th Amendment) Rules, 2014.

    (2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Income-tax Rules, 1962, in Appendix-II, for Form No. 3CA, Form No. 3CB and Form No. 3CD, the following forms shall be substituted, namely:-

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Source: Income Tax.

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Place of Provision of Services (Amendment) Rules, 2014

Seeks to amend the Place of Provision of Services Rule, 2012, to prescribe or modify the place of provision of services for certain specified services.

Notification No. 14/2014 - Service Tax, [F.No. 334 /15/ 2014-TRU], dated 11th July, 2014

G.S.R…..(E).- In exercise of the powers conferred by sub-section (1) of section 66C and clause (hhh) of sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules to amend the Place of Provision of Services Rules, 2012, namely:—

(1) (1) These rules may be called the Place of Provision of Services (Amendment) Rules, 2014.

      (2) They shall come into force on the 1st day of October, 2014.

(1) In the Place of Provision of Services Rules, 2012,–

(a) in rule 2 for clause (f), the following clause shall be substituted, namely:-

‘(f) “intermediary” means a broker, an agent or any other person, by whatever name called, who arranges or facilitates a provision of a service (hereinafter called the ‗main‘ service) or a supply of goods, between two or more persons, but does not include a person who provides the main service or supplies the goods on his account;’;

(b) in rule 4, in clause (a), for the second proviso, the following proviso shall be substituted, namely:-

“Provided further that this clause shall not apply in the case of a service provided in respect of goods that are temporarily imported into India for repairs and are exported after the repairs without being put to any use in the taxable territory, other than that which is required for such repair;”;

(c) in rule 9, for clause (d), the following clause shall be substituted, namely:-

“(d) Service consisting of hiring of all means of transport other than,-

(i) aircrafts, and

(ii) vessels except yachts,

upto a period of one month.”.

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Source: Directorate General of Service Tax

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Point of Taxation (Amendment) Rules, 2014

Notification No. 13/2014 – Service Tax, [F. No.334/ 15 /2014 -TRU], dated 11th July, 2014

Seeks to amend the Point of Taxation Rules, 2011, to prescribe the point of taxation for the services on which person liable to pay service tax is the recipient.

G.S.R. ….(E).- In exercise of the powers conferred by clause (a) and clause (hhh) of sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Point of Taxation Rules, 2011, namely:—

1. (1) These rules may be called the Point of Taxation (Amendment) Rules, 2014.

    (2) They shall come into force on the 1st day of October, 2014.

2. In the Point of Taxation Rules, 2011,–

(a) in rule 7,–

(i) for the words ―"contained in these rules" the words and figures ―"contained in rules 3,4, or 8” shall be substituted;

(ii) for the first proviso, the following proviso shall be substituted, namely:-

“Provided that where the payment is not made within a period of three months of the date of invoice, the point of taxation shall be the date immediately following the said period of three months:”;

(b) after rule 9, the following rule shall be inserted, namely:-

“10. Notwithstanding anything contained in the first proviso to rule 7, if the invoice in respect of a service, for which point of taxation is determinable under rule 7 has been issued before the 1^st day of October, 2014 but payment has not been made as on the said day, the point of taxation shall,–

(a) if payment is made within a period of six months of the date of invoice, be the date on which payment is made;

(b) if payment is not made within a period of six months of the date of invoice, be determined as if rule 7 and this rule do not exist.”.

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Source:Directorate General of Service Tax

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Service Tax (Determination of Value) Amendment Rules, 2014

Notification No. 11/2014 - Service Tax, [F. No. 334 /15 /2014 -TRU], dated 11th July, 2014

G.S.R.____ (E).- In exercise of the powers conferred by clause (aa) of sub-section (2) of section 94 of the Finance Act,1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax (Determination of Value) Rules, 2006, namely:--

1. (1) These rules may be called the Service Tax (Determination of Value) Amendment Rules, 2014.

     (2) They shall come into force on the 1st day of October 2014.

2. In the Service Tax (Determination of Value) Rules, 2006, in rule 2A, in clause (ii), for sub-clauses (B) and (C), the following sub-clause shall be substituted, namely:--

“(B) in case of works contract, not covered under sub-clause (A), including works contract entered into for,-

(i) maintenance or repair or reconditioning or restoration or servicing of any goods; or

(ii) maintenance or repair or completion and finishing services such as glazing or plastering or floor and wall tiling or installation of electrical fittings of immovable property,

service tax shall be payable on seventy per cent of the total amount charged for the works contract”.

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Source: Directorate General of Service Tax

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Service Tax (Amendment) Rules, 2014

Seeks to amend the Service Tax Rules, 1994 so as to prescribe,-

(i)  the person liable to pay service tax for certain specified services and

(ii)  mandatory e-payment of service tax for all the assessees, with effect from 1st October, 2014.

 Notification No. 9/2014- Service Tax, [F.No. 334 /15/2014- TRU], dated 11th July, 2014

G.S.R..... (E). – In exercise of the powers conferred by sub-section (1) read with sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax Rules, 1994, namely:—

1. (1) These rules may be called the Service Tax (Amendment) Rules, 2014.

    (2) Save as otherwise provided in these rules, they shall come into force on the 11th July, 2014.

2. In the Service Tax Rules, 1994 (hereinafter referred to as the said rules),–

(A) in rule 2, in sub-rule (1), in clause (d), in sub-clause (i),–

(a) after item (A), the following item shall be inserted , namely:-

― (AA) in relation to service provided or agreed to be provided by a recovery agent to a banking company or a financial institution or a non-banking financial company, the recipient of the service;;

(b) for item (EE),the following item shall be substituted, namely:-

―(EE) in relation to service provided or agreed to be provided by a director of a company or a body corporate to the said company or the body corporate, the recipient of such service;;

(B) in rule 6 of the said rules, for sub-rule (2), the following sub-rule shall be substituted with effect from the 1st October, 2014, namely:-

“(2) Every assessee shall electronically pay the service tax payable by him, through internet banking:

Provided that the Assistant Commissioner or the Deputy Commissioner of Central Excise, as the case may be, having jurisdiction, may for reasons to be recorded in writing, allow the assessee to deposit the service tax by any mode other than internet banking.”

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Source:Directorate General of Service Tax

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Companies (Registration Offices and Fees) Amendment Rules, 2014

Notification, [F. No.1/5/2014-CL-V], dated 28th April, 2014

G.S.R. 297(E).— In exercise of the powers conferred by Sections 396, 398, 399, 403 and section 404, read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules to amend the Companies (Registration Offices and Fees) Rules, 2014, namely:—

1. (1) These rules may be called the Companies (Registration Offices and Fees) Amendment Rules, 2014.

     (2) They shall come into force with effect from the 28th day of April, 2014.

2. In the Companies (Registration Offices and Fees) Rules, 2014 (herein after referred to as the said rules), in rule 8, after sub-rule (11), following sub-rule shall be inserted, namely:—

“(12) (a) The following e-forms filed by companies, other than one person companies and small companies, under sub-rule (1) of rule 9, shall be pre-certified by the Chartered Accountant or the Company Secretary or as the case may be the Cost Accountant, in whole-time practice, namely:-

INC-21, INC-22, INC-28, PAS-3, SH-7, CHG-1, CHG-4, CHG-9, MGT- 14, DIR-6, DIR-12, MR-1, MR-2, MSC-1, MSC-3, MSC-4, GNL-3, ADT-1, NDH-1, NDH-2, NDH-3;

(b) The following e-forms filed by companies, other than one person companies and small companies, under sub-rule (1) of rule 9, shall be pre-certified in the following manner, namely:—

(i) GNL-1 - optional pre-certification by the Chartered Accountant or the Company Secretary or as the case may be the Cost Accountant, in whole-time practice;

(ii) DPT-3 – certification by Auditors of the company;

(iii) MGT-10-certification by a Company Secretary in whole-time practice;

(iv) AOC-4- certification by a Chartered Accountant in whole-time practice;

(c) E-form DIR-3 shall be filed along with attestation of photograph, identity proof and proof of residence of the applicant by the Chartered Accountant or the Company Secretary or as the case may be the Cost Accountant, in whole-time practice.”

3. In the said rules, in rule 9, for sub-rule (1), the following sub-rule shall be substituted, namely:—

"(1) The Central Government shall set up and maintain a secure centralised electronic registry in which all the applications, financial statement, prospectus, return, register, memorandum, articles, particulars of charges, or any particulars or returns or any other documents under the Act shall be filed and stored electronically."

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Source: Ministry of Corporate Affairs.

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Wealth‐Tax (1st Amendment) Rules, 2014

Notification No.32/2014, F.No.143/1/2014‐TPL, dated 23rd June, 2014

S.O.1576 (E) .— In exercise of the powers conferred by clause (ba) and clause (bb) of sub‐section (2) of Section 46 read with section 14A and section 14B of the Wealth‐tax Act, 1957 (27 of 1957), the Central Board of Direct Taxes hereby makes the following rules further to amend the Wealth‐tax Rules, 1957, namely:—

1. (1) These rules may be called the Wealth‐tax (1st Amendment) Rules, 2014.

    (2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Wealth‐tax Rules, 1957 (hereinafter referred to as the “said rules”),—

(i) for rule 3, the following rule shall be substituted, namely:–

“3. Form of return of net wealth. — (1) The return of net wealth referred to in section 14 shall—

(a) in respect of assessment year 2013‐14 and earlier assessment years in the case of individuals, Hindu undivided families and companies, be in Form BA and shall be verified in the manner specified therein.

(b) in respect of the assessment year 2014‐15 and any other subsequent assessment year in the case of individuals, Hindu undivided families and companies be in Form BB and shall be verified in the manner specified therein.

(2) Subject to the provisions of sub‐rule (3), for the assessment year 2014‐15 and any other subsequent assessment year, the return of net wealth referred to in sub‐rule (1) shall be furnished electronically under digital signature.

(3) In case of individual or Hindu undivided family to whom the provisions of section 44AB of the Income‐tax Act, 1961(43 of 1961) are not applicable, the return of net wealth referred to in sub‐rule (1) may be furnished for assessment year 2014‐15 in a paper form.

(4) The return of net wealth required to be furnished in Form BB shall not be accompanied by a statement showing the computation of the tax payable on the basis of the return, or proof of the tax and interest paid, or any document or copy of any account or form of report of valuation by registered valuer required to be attached with the return of net wealth under any provisions of the Act.

(5) The Director General of Income‐tax (Systems) shall specify the procedures, formats and standards for ensuring secure capture and transmission of data and shall also be responsible for evolving and implementing appropriate security, archival and retrieval policies in relation to furnishing the returns in the manners specified in sub‐rule (2).”

3. In the said rules, in Appendix, after Form BA, the following Form shall be inserted; namely: ‐

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Source: Income Tax.

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Companies (Meetings and Powers of Board) Amendment Rules, 2014

Notification, [F.No.1/32/2013-CL-V Pt.], dated 12th June, 2014

G.S.R .............- In exercise of the powers conferred under Sections 173, 175,177,178, 179,184, 185 , 186, 187, 188, 189 and Section 191 read with Section 469 of  the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules to amend the Companies (Meetings and Powers of Board) Rules, 2014, namely:-

1. (1) These rules may be called the Companies (Meetings and Powers of Board) Amendment Rules, 2014.

    (2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Companies (Meetings and Powers of Board) Rules, 2014, in rule 6, after the explanation, the following shall be inserted, namely:-

"Provided that public companies covered under this rule which were not required to constitute Audit Committee under Section 292A of the Companies Act, 1956 (1 of1956) shall constitute their Audit Committee within one year from the commencement of these rules or appointment of independent directors by them, whichever is earlier:

Provided further that public companies covered under this rule shall constitute their Nomination and Remuneration Committee within one year from the commencement of these rules or appointment of independent directors by them, whichever is earlier.".

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Source: Ministry of Corporate Affairs.

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Companies (Declaration and Payment of Dividend) Amendment Rules, 2014

Notification, [File No. 1/31/2013-CL.V], dated 12th June, 2014

G.S.R……… (E). -  In exercise of the powers conferred under sub-section (1) of Section 123 read with Section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules to amend the Companies (Declaration and Payment of Dividend) Rules, 2014, namely:—

1. (1) These rules may be called the Companies (Declaration and Payment of Dividend) Amendment Rules, 2014.

     (2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Companies (Declaration and Payment of Dividend) Rules, 2014, in rule 3, for sub-rule (5), the following sub-rule shall be substituted, namely:—

"(5) No company shall declare dividend unless carried over previous losses and depreciation not provided in previous year or years are set off against profit of the company of the current year."

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Source: Ministry of Corporate Affairs.

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Companies (Acceptance of Deposits) Amendment Rules, 2014

Notification, [F. No 1/8/2013-CL-V], dated 6th June, 2014

G.S.R. 386(E). — In exercise of the powers conferred by Sections 73 and 76 read with sub-section (1) of Section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules to amend the Companies (Acceptance of Deposits) Rules, 2014, namely:-

1. (1) These rules may be called the Companies (Acceptance of Deposits) Amendment Rules, 2014.

     (2) They shall come into force from the date of their publication in the Official Gazette.

2. In the Companies (Acceptance of Deposits) Rules, 2014, in rule 5, in sub-rule (1), the following proviso shall be inserted, namely:-

“Provided that the companies may accept the deposits without deposit insurance contract till the 31st March, 2015.”

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Source: Ministry of Corporate Affairs.

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Income Tax (6th Amendment) Rules, 2014

Notification No. 28/2014, F.No.142/2/2014-TPL, dated 30^th May, 2014

S.O. 1418(E).─In exercise of the powers conferred by Section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-

1. (1) These rules may be called the Income-tax (6th Amendment) Rules, 2014.

    (2) They shall be deemed to have come into force with effect from the 1st day of April, 2014.

2. In the Income-tax Rules, 1962 (hereinafter referred to as the said rules), in rule 12, in sub-rule(2), in the proviso,-

(a) after the expression “section 10A”, the expression “section 10AA”shall be inserted;

(b) after the expression “section 44AB”, the expression “section 44DA, section 50B”shall be inserted;

(c) for the expression “or section 115JB”, the expression “section 115JB or section 115VW”shall be substituted.

3. In the said rules, in Appendix-II, for FORM ITR-3, FORM ITR-4, FORM ITR-5, FORM ITR-6 and FORM ITR-7, the following FORMS shall respectively be substituted, namely:-

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Source: Income Tax.

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Income - Tax (5th Amendment) Rules, 2014

Notification No. 26/2014, [F.No.142/15/2013-TPL], dated 16th May, 2014

S.O. 2045 (E) - In exercise of the powers conferred by Section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-

1. (1) These rules may be called the Income-Tax (5th Amendment) Rules, 2014.

    (2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Income-tax Rules, 1962, in Appendix II, for Forms 49A and 49AA, the following Forms shall be substituted, namely:-

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Source: Income Tax.

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Companies Act 2013 – Statement of Notification of Rules

Companies Act 2013 – Statement of Notification of Rules

Sr. No.	Particulars of Rules	Effective Date
01.	Companies (Specification of definitions details) Rules, 2014.	01/04/2014
02.	Companies (Accounts) Rules, 2014	01/04/2014
03.	Companies (Meetings of Board and its Powers) Rules, 2014.	01/04/2014
04.	Companies (Declaration and Payment of Dividend) Rules, 2014.	01/04/2014
05.	Companies (Audit and Auditors) Rules, 2014.	01/04/2014
06.	Companies (Inspection, Investigation and Inquiry) Rules, 2014.	01/04/2014
07.	Companies (Registration Offices and Fees) Rules, 2014.	01/04/2014
08.	Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014	01/04/2014
09.	Companies (Incorporation) Rules, 2014.	01/04/2014
10.	(i) Companies (Prospectus and Allotment of Securities) Rules, 2014. (ii) Companies (Issue of Global Depository Receipts) Rules, 2014.	01/04/2014 01/04/2014
11.	(i) Companies (Miscellaneous) Rules, 2014. (ii) Companies (Adjudication of Penalties) Rules, 2014.	01/04/2014 01/04/2014
12.	Companies (Acceptance of Deposits) Rules, 2014.	01/04/2014
13.	Companies (Authorised to Registered) Rules, 2014.	01/04/2014
14.	Nidhi Rules, 2014.	01/04/2014
15.	Companies (Appointment and Qualification of Directors) Rules, 2014.	01/04/2014
16.	Companies (Management and Administration) Rules, 2014.	01/04/2014
17.	Companies (Share Capital and Debentures) Rules, 2014.	01/04/2014
18.	Companies (Registration of Foreign Companies) Rules, 2014.	01/04/2014
19.	Companies (Registration of Charges) Rules, 2014.	01/04/2014
20.	Schedule II	01/04/2014
21.	Corrigenda on Schedule VII	01/04/2014

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Source: Ministry of Corporate Affairs.

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