Clause 44 - Amendment of section 116 - FINANCE (No. 2) BILL, 2014

Amendment of section 116

44. In section 116 of the Income-tax Act,––

          (i) after clause (a), the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of June, 2013,––

                  “(aa) Principal Directors General of Income-tax or Principal Chief Commissioners of Income-tax,”;

          (ii) after clause (b), the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of June, 2013,––

                 “(ba) Principal Directors of Income-tax or Principal Commissioners of Income-tax,”.

 

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Notes on Clauses:

Clause 44 of the Bill seeks to amend section 116 of the Income-tax Act relating to income-tax authorities.

          Section 116 specifies the income-tax authorities.

          It is proposed to include Principal Chief Commissioners of Income-tax, Principal Commissioners of Income-tax, Principal Directors General of Income-tax and Principal Directors of Income-tax as income-tax authorities under the said section 116.

          These amendments will take effect retrospectively from 1^st June, 2013.