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27. Amendment of section 139. |
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—In section 139 of the Income-tax Act,—
(a) in sub-section (1), in Explanation 2, in clause (a), for the figures, letters and words "31st day of October", the figures, letters and words "30th day of September" shall be substituted;
(b) in sub-section (9), in the Explanation, in clause (c), in sub-clause (i), the words, figures and letters "before the 1st day of April, 2008" shall be omitted.
Clause 27 seeks to amend section 139 of the Income-tax Act, which relates to return of income.
Clause (a) of Explanation 2 to sub-section (1) of the said section provides for the due date for filing of return of income by the categories of assessees specified thereunder. Under the said provisions of the Act, the due date for filing return of income in the case of a company or a person (other than a company) whose accounts are required to be audited under this Act or under any other law for the time being in force, or a working partner of a firm whose accounts are required to be audited under this Act or under any other law for the time being in force, is 31st October of the assessment year.
It is proposed to amend the said clause so as to provide that the due date for filing such return of income shall be 30th September of the assessment year.
This amendment will take effect from 1st April, 2008.
The Explanation to sub-section (9) of the said section provides for conditions required to be fulfilled so that a return of income is not regarded as defective.
Sub-clause (i) of clause (c) of the said Explanation provides that a return shall be regarded as a defective return if it is not accompanied by proof of the tax claimed to have been deducted or collected at source before 1st April, 2008.
Further, it is proposed to omit the reference to the said date so as to bring the provisions relating to proof of the tax claimed to have been deducted or collected at source on par with the provisions relating to proof of payment of advance tax referred to in the said sub-clause.
This amendment will take effect from 1st April, 2008.
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