The CBDT vide Notification No. 16/2021, dated March 12, 2021 has issued the ‘Income-tax (4th Amendment) Rules, 2021’ to further amend the Rule 114E of the Income-tax Rules, 1962 with regard to furnishing of statement of financial transaction in order to get information about large transactions by the taxpayers that will be used in preparing pre-filled Income Tax Returns (“ITR”) and to improve tax compliance and convenience of filing ITR.
The Notification can be accessed at: http://egazette.nic.in/WriteReadData/2021/225857.pdf