Amendment of section 140
48. In section 140 of the Income-tax Act, with effect from the 1st day of October, 2014,––
(i) in the marginal heading, for the word “signed”, the word “verified” shall be substituted;
(ii) for the words “signed and verified”, wherever they occur, the word “verified” shall be substituted;
(iii) for the words “sign and verify”, wherever they occur, the word “verify” shall be substituted;
(iv) in clause (a),––
(a) in sub-clause (iv), for the word “sign”, the word “verify” shall be substituted;
(b) in the proviso, for the word “signing”, the word “verifying” shall be substituted.
Notes on Clauses:
Clause 48 of the Bill seeks to amend section 140 of the Income-tax Act relating to return by whom to be signed.
Section 140 of the Act relates to return by whom to be signed and verified. It is proposed to amend section 140 of the Act, so as to dispense with the condition of signing the income-tax return and accordingly to omit the statutory requirement of signing such return. With this amendment, only the condition of verifying of the income-tax return will apply.
This amendment will take effect from 1st October, 2014.
