Amendment of section 296.
108. In section 296 of the Income-tax Act, after the word and figures “section 139”, the words, brackets, figures and letter “or third proviso to sub-section (1) of section 153A or second proviso to sub-section (1) of section 153C” shall be inserted with effect from the 1st day of July, 2012.
Notes on Clauses:
Clause 108 of the Bill seeks to amend section 296 of the Income-tax Act relating to rules and certain notifications to be placed before Parliament.
The existing provisions of the aforesaid section 296 provide for laying of rules and certain notifications before Parliament.
It is proposed to amend the aforesaid section so as to provide that the rules made by the Central Government under the third proviso to sub-section (1) of section 153A or under the second proviso to sub-section (1) of section 153C are laid before Parliament.
This amendment will take effect from 1st July, 2012.
