Amendment of section 156.
68. In section 156 of the Income-tax Act, for the proviso, the following proviso shall be substituted with effect from the 1st day of July, 2012, namely:—
“Provided that where any sum is determined to be payable by the assessee or by the deductor under sub-section (1) of section 143 or sub-section (1) of section 200A, the intimation under those sub-sections shall be deemed to be a notice of demand for the purposes of this section.”.
Notes on Clauses:
Clause 68 of the Bill seeks to amend section 156 of the Income-tax Act relating to notice of demand.
The existing provisions contained in the proviso to the aforesaid section 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.
It is proposed to substitute the aforesaid proviso to section 156 so as to provide that where any sum is determined to be payable by the assessee or by the deductor under sub-section (1) of section 143 or sub-section (1) of section 200A, the intimation under those sub-sections shall be deemed to be a notice of demand for the purposes of this section.
This amendment will take effect from 1st July, 2012.
