¹ [Statement of specified services or e-commerce supply or services.

5. (1) The statement required to be furnished under sub-section (1) or sub-section (2) of section 167 of the Act shall be in Form No. 1, duly verified in the manner indicated therein, and may be furnished by the assessee or e-commerce operator, as the case may be, in the following manner, namely:-

(i) electronically under digital signature; or

(ii) electronically through electronic verification code.

(2) The statement in Form No. 1 required to be furnished under sub-section (1) of section 167 of the Act shall be furnished on or before the 30th day of June immediately following that financial year.

(3) The Principal Director-General of Income-tax (Systems) or Director General of Income-tax (Systems), as the case may be, for the purpose of ensuring secure capture and transmission of data, shall-

(i) lay down the procedure for electronic filing of Form No. 1;

(ii) lay down the data structure, standards and manner of generation of electronic verification code, referred to in sub rule (2), for the purpose of verification of the person furnishing the said form;

(iii) be responsible for formulating and implementing appropriate security, archival and retrieval policies in relation to the said form so furnished; and

(iv) specify the manner of furnishing the revised statement required to be furnished under sub-section (2) of section 167 of the Act.]

Note:

1 . Substituted by the Equalisation levy (Amendment) Rules, 2020 , w.e.f. 28-10-2020 .

Prior to its substitution rule 5, read as under:

"5. Statement of specified services.—(1) The statement of specified services required to be furnished under sub-section (1) of section 167 of the Act shall be in Form No. 1, duly verified in the manner indicated therein, and may be furnished by the assessee in the following manner, namely:—

(i) electronically under digital signature; or

(ii) electronically through electronic verification code.

(2) The statement in Form No. 1 in respect of all the specified services chargeable to equalisation levy during any financial year shall be furnished on or before the 30th June immediately following that financial year.

(3) The Principal Director-General of Income-tax (Systems) shall, for the purpose of ensuring secure capture and transmission of data, lay down the specific procedures, formats and standards and shall also be responsible for evolving and implementing appropriate security, archival and retrieval policies in relation to furnishing the statement under sub-rule (1).

Explanation.— For the purposes of this rule "electronic verification code" means a code generated for the purpose of electronic verification of the person furnishing the statement of specified services as per the data structure and standards laid down by the Principal Director General of Income-tax (Systems)."