Legal Library: Rules
Procedural and technical Income Tax Rules, 1962 (Updated with Finance Act 2025).
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Rule 2A - Limits for HRA Exemption
The amount of any special allowance which an assessee receives from his employer by way of house rent allowance shall be exempt from tax to the least of the following:
- Actual HRA received from employer.
- Rent paid in excess of 10% of salary.
- 50% of salary (for Metro cities) or 40% of salary (for non-Metro cities).
Rule 5 - Depreciation Rates
Depreciation shall be calculated at the percentage specified in the second column of the Table of rates in Appendix I. These rates apply to the "written down value" of the block of assets.
- Residential Buildings: 5%
- Office Machinery/Computers: 40%
- General Furniture: 10%
Rule 6G - Forms of Audit Report
The report of audit of the accounts of a person required to be furnished under section 44AB shall,—
- Form No. 3CA: (for person carrying business/profession required by any other law to get accounts audited).
- Form No. 3CB: (for person carrying business/profession NOT required by any other law).
- Form No. 3CD: The statement of particulars required to be furnished.
Rule 114AAA - Consequences of Inoperative PAN
Where a person, whose PAN has become inoperative, is required to quote, intimate or furnish his PAN, it shall be deemed that he has not quoted, intimated or furnished the PAN. Consequently, all provisions of the Act for non-quoting (like higher TDS 20%) shall apply.
Rule 119A - Procedure for Interest Calculation
In calculating of interest payable, the amount on which interest is payable shall be rounded off to the nearest multiple of one hundred rupees and for this purpose any fraction of one hundred rupees shall be ignored.