Form 47: Form For Furnishing Information
A number of forms help the Income Tax Department of India to conduct business in a neat and businesslike manner and Form 47 is one among them. Rule 113 of the Income Tax Rules of 1962 govern the use of this particular form and the section of the Income Tax Act of 1961 that is relevant to it is Sub Section 1 (b) of Section 138. The form is a reply that the Chief Commissioner or the office of the Chief Commissioner gives to an application seeking information about a particular Assessee. The reply may give away the requested information or may deny the applicant such information. The form may be used In both scenarios with the section that is not required stricken off.
As per Clause (b) of Sub Section (1) of Section 138 of the Income Tax of 1961, the Chief Commissioner or his office, upon receipt of an application seeking information about an Assessee through Form 46 has to furnish a reply either giving out the information of denying it. This reply is furnished through Form 47 as per Rule 113 of the Income Tax Rules of 1962. The form has two major sections. The first section has the required information on the Assessee the information was sought on including details such as the name and address of the Assessee, the status of the Assessee, and the Assessment Year the information relates to.
The second section states the denial for any such information where the Chief Commissioner or the office of the Chief Commissioner states that such information regarding the Assess cannot be made public for certain reasons and that the request of the applicant has been denied. Form 47 is required to have the Seal of the Chief Commissioner’s office and the authority responsible for furnishing the information through the form is required to sign it.