Amendment of section 115JE.
50. In section 115JE of the Income-tax Act, for the words “a limited liability partnership”, the words “a person” shall be substituted with effect from the 1st day of April, 2013.
Notes on Clauses:
Clause 50 of the Bill seeks to amend section 115JE of the Income-tax Act relating to application of other provisions of this Act.
The existing provisions of the aforesaid section 115JE provide that save as provided in Chapter XII-BA, all other provisions of the Income-tax Act shall apply to a limited liability partnership.
It is proposed to substitute “a person” in place of “a limited liability partnership” used in the aforesaid section so as to provide that save as provided in Chapter XII-BA, all other provisions of the Income-tax Act shall apply to a person referred to in the said Chapter.
This amendment will take effect from 1st April, 2013 and will, accordingly, apply in relation to the assessment year 2013-2014 and subsequent assessment years.
