Rule 85: international transaction or a specified domestic transaction during a tax year, shall be in Form No
Is rule section 515(3)(b), section 172 ke under apply karne ke liye prescribed form ka istemal batata hai. Form ko sahi format mein bharna mandatory hai, anya form valid nahi hogi.
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Bare law
Rule 85 - international transaction or a specified domestic transaction during a tax year, shall be in Form No. 48 and be verified
85. (1) The report from an accountant, as defined in section 515(3)(b), required to be furnished under section 172 by every person who has entered into an international transaction or a specified domestic transaction during a tax year, shall be in Form No. 48 and be verified in the manner indicated therein. (2) The report referred to in sub-rule (1) shall be furnished at least one month prior to the due date of furnishing return of income as per section 263(1)(c).
Definitions for safe harbour rules for international transactions.
Rule breakdown
85. (1) The report from an accountant, as defined in section 515(3)(b), required to be furnished under section 172 by every person who has entered into an international transaction or a specified domestic transaction during a tax year, shall be in Form No. 48 and be verified in the manner indicated
Definitions for safe harbour rules for international transactions.
Key takeaways
Legal Provision
Yeh rule section 515(3)(b), section 172 ke under delegated legislation hai. Act ke relevant provisions ke saath iska alignment hona zaroori hai.
- section 515(3)(b), section 172 ke under yeh rule framed hai
- Amendment time to time ho sakte hain
Prescribed Form
Rule me specified form fill karna mandatory hai, uske bina application invalid hogi.
- Self-declaration ya anya form valid nahi hogi
- Form ke instructions carefully follow karein
- Supporting documents attach karna chahiye
Penalty Risk
Non-compliance ke under penalty apply ho sakti hai.
- Penalty amount case-by-case depend karta hai
- Early compliance se penalty avoid ho sakti hai
Professional Advice
Complex provisions ko samajhne ke liye apne CA/CS se consult karein.
- CA se help lene se mistakes kam ho jati hain
- Accurate filing ke liye expert guidance zaroori hai
FAQs
Is rule section 515(3)(b), section 172 ke under kaise aata hai?
Is rule Income-tax Act, 2025 ke section 515(3)(b), section 172 ke under delegated legislation hai aur Income-tax Rules, 2026 ka part hai.
Is rule kab se applicable hoga?
Is rule 1st April, 2026 se applicable hoga. Jab tak koi amendment nahi aati, yeh current form mein valid rahegi.
Isme kaunsa form use karna hai?
Rule me specific prescribed form ka use bataya gaya hai. Form Appendix mein diya gaya hai ya relevant authority se available hai. Sahe format mein bharna zaroori hai.
Non-compliance ka kya impact hai?
Rule ke provisions follow nahi karne par penalty, disallowance of claim, ya rejection ho sakta hai. Compliance maintain karna better hai.