Amendment of section 139
32. In section 139 of the Income-tax Act, in sub-section (9), in the Explanation, after clause (a), the following clause shall be inserted with effect from the 1st day of June, 2013, namely:—
“(aa) the tax together with interest, if any, payable in accordance with the provisions of section 140A, has been paid on or before the date of furnishing of the return;”.
Notes on Clauses:
Clause 32 of the Bill seeks to amend section 139 of the Incometax Act relating to return of income.
The existing provisions contained in Explanation to section 139 of the Income-tax Act provides the conditions which, if not fulfilled, may render the return of income furnished by the assessee, defective.
It is proposed to amend the aforesaid Explanation so as to provide that the return of income shall be regarded as defective unless the tax together with interest, if any, payable in accordance with the provisions of section 140A, has been paid on or before the date of furnishing of the return.
This amendment will take effect from 1st June, 2013.
