MANU/CBDT/0075/2021

Ministry : Ministry of Finance

Department/Board : CBDT

Notification No. : 05 of 2021

Date : 24.05.2021

Procedure for exercise of option under sub-section (1) of Section 245M and intimation thereof by furnishing and upload of Form No. 34BB under sub-Rule (1) of Rule 44DA of Income-Tax Rules, 1962

In exercise of the powers conferred by the Department of Revenue, Ministry of Finance, under sub-rule (3) and sub-rule (4) of Rule 44DA of the Income-tax Rules, 1962 ('the Rules'), the Director General of Income Tax (Systems) hereby specify the following procedures:

2. Furnishing and upload of Form No. 34BB to exercise option under sub-section (1) of section 245M-2 step procedure:

Step 1: Provide basic details for assessees intending to exercise option under sub-section (1) of section 245M

i. The assessee who wish to exercise option for withdrawal application filed u/s. 245C and such application is pending, shall first provide the basic details in following format on the form placed at www.nic.in:

https://nicforms.mp.nic.in/nicforms_designer/nic_form_selector.php?form_id=enRhYmxlNjA2ZDMyN2RiNTg0ZTIwMiEwNDA3MzE=(short URL: https://tinyurl.com/form34bb). The details of the link has also been made available on E-Filing portal of the Department: www.incometaxindiaefiling.gov.in (also on: www.incometax.gov.in with effect from 7th June 2021)

PAN

Name of the assessee

AY

Date of filing application u/s. 245C

Application No.