Amendment of section 46
53. In section 46 of the Wealth-tax Act, in sub-section (2), after clause (b), the following clauses shall be inserted with effect from the 1st day of June, 2013, namely:—
“(ba) the documents, statements, receipts, certificates, audit reports, reports of registered valuer or any other documents which may not be furnished along with the return but shall be produced before the Assessing Officer on demand under section 14A;
(bb) the class or classes of persons who shall be required to furnish the return in electronic form; the form and the manner in which the return in electronic form may be furnished; the documents, statements, receipts, certificates, audit reports, reports of registered valuer or any other documents which may not be furnished along with the return in electronic form and the computer resource or electronic record to which such return may be transmitted under section 14B;”.
Notes on Clauses:
Clause 53 of the Bill seeks to amend section 46 of the Wealthtax Act relating to power of the Board to make rules.
It is proposed to insert new clauses (ba) and (bb) in subsection (2) of the said section which are consequent to insertion of sections 14A and 14B giving certain rule making powers to the Board.
This amendment will take effect from 1st June, 2013.
