[Return of income under section 158BC.
(1) The return of income required to be furnished by any person under clause (a) of sub-section (1) of section 158BC, relating to any search initiated under section 132 or requisition made under section 132A on or after the 1 day of September, 2024 shall be in the Form ITR-B and be verified in the manner indicated therein.
(2) The return of income referred to in sub-rule (1) shall be furnished by a person, mentioned in column (2) of the Table below in the manner specified in column (3) thereof: —
(a) person whose accounts are required to be audited under section 44AB of the Act;
(b) Company;
(c) Political party.
(A) Electronically under digital signature;
(B) Transmitting the data electronically in the return under electronic verification code.
Explanation.- For the purposes of this sub-rule, "electronic verification code" shall have the same meaning as assigned to it in Explanation to sub-rule (2) of rule 12AC.
(3) The Principal Director-General of Income-tax (Systems) or 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 return in the manners specified in column (3) of the Table.
(4) In a case where claim of credit of the tax payments is made against undisclosed income of the block period other than by way of self-assessment tax for the block period, claim of such credits and the allowability thereof shall be subject to the verification by and satisfaction of, the Assessing Officer.]