32. In section 296 of the Income-tax Act, after the words and figures "of section 10", the words, brackets, figures and letter "and every notification issued under sub-section (1C) of section 139" shall be inserted with effect from the 1st day of June, 2011.
Notes on Clauses:
Clause 32 of the Bill seeks to amend section 296 of the Income-tax Act relating to rules and certain notifications to be placed before Parliament.
As proposed, clause 23 of the Bill seeks to insert sub-section (1C) in section 139 of the Income-tax Act so as to empower the Central Government to exempt, by notification, any class or classes of persons from the requirement of furnishing a return of income having regard to such conditions as may be specified in that notification.
It is proposed to amend section 296 of the Income-tax Act so as to provide that every notification issued under sub-section (1C) of section 139 shall be laid before Parliament.
This amendment will take effect from 1st June, 2011.
