Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Statutory Provisions

Home Acts & Rules Bill Bills FINANCE (No. 2) BILL, 2009 Chapters List Chapter III DIRECT TAXES This

Clause 53 - Amendment of section 140 - FINANCE (No. 2) BILL, 2009

FINANCE (No. 2) BILL, 2009
Chapter III
DIRECT TAXES
  • Contents

Amendment of section 140.

53. In section 140 of the Income-tax Act, after clause (cc), the following clause shall be inserted with effect from the 1st day of April, 2010, namely:—

"(cd) in the case of a limited liability partnership, by the designated partner thereof, or where for any unavoidable reason such designated partner is not able to sign and verify the return, or where there is no designated partner as such, by any partner thereof.".

 



 

Notes on Clauses:

Clause 53 of the Bill seeks to amend section 140 of the Incometax Act relating to return by whom to be signed.

Under the existing provisions contained in the said section the return under section 115WD or section 139 shall be signed and verified by the concerned persons as specified in the said section.  This clause seeks to amend the said section so as to insert a new clause (cd) which provides that in the case of a limited liability partnership, the return shall be signed and verified by the designated partner and where for any unavoidable reason the designated partner is not able to sign the return or where there is no designated partner by any other partner.

This amendment will take effect from 1st April, 2010, and will, accordingly apply in relation to the assessment year 2010-2011 and subsequent years.

 
 
 
 

Quick Updates:Latest Updates