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37. Amendment of section 156. |
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—In section 156 of the Income-tax Act, the following proviso shall be inserted, namely:—
‘‘Provided that where any sum is determined to be payable by the assessee under sub-section (1) of section 143, the intimation under that sub-section shall be deemed to be a notice of demand for the purposes of this section.".
Clause 37 seeks to amend section 156 of the Income-tax Act, which relates to notice of demand.
The existing provisions of section 156 provides that when any tax, interest, penalty, fine or any other sum is payable in consequence of any order passed under this Act, the Assessing Officer shall serve upon the assessee a notice of demand in the prescribed form specifying the sum so payable.
It is proposed to amend said section so as to provide that where any sum is determined to be payable by the assessee under sub-section (1) of section 143, the intimation under that sub-section shall be deemed to be a notice of demand for the purposes of this section.
This amendment will take effect from 1st April, 2008.
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