Amendment to Section 133C: Centralized Scheme for Information Processing in Income-Tax Act Effective April 2017
Clause 54 of the Finance Bill, 2017, amends section 133C of the Income-tax Act, which concerns the power of prescribed income-tax authorities to call for information. The amendment introduces sub-section (3), allowing the Central Board of Direct Taxes to create a scheme for centralized issuance of notices, processing of information or documents, and providing the processing outcomes to the Assessing Officer. This change aims to streamline the process of handling information requests and will be effective from April 1, 2017.
Full Summary is availble for active users!
Note: It is a system-generated summary and is for quick
reference only.
TaxTMI 
of 
https://www.taxtmi.com/ac...
TaxTMI 
