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Home Acts & Rules Bill Bills FINANCE BILL, 2017 Chapters List Chapter III DIRECT TAXES - Income-tax This
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Clause 52 - Amendment of section 133. - FINANCE BILL, 2017

FINANCE BILL, 2017
Chapter III
DIRECT TAXES - Income-tax
  • Contents

Amendment of section 133.

52. In section 133 of the Income-tax Act,-

(i) in the first proviso, for the words “and the Principal Commissioner or Commissioner”, the words “or the Principal Commissioner or Commissioner or the Joint Director or Deputy Director or Assistant Director” shall be substituted;

(ii) in the second proviso, after the words “Director or Principal Commissioner or Commissioner”, the words “, other than the Joint Director or Deputy Director or Assistant Director,” shall be inserted.

 



 

Notes on Clauses:

Clause 52 of the Bill seeks to amend section 133 of the Income-tax Act relating to power to call for information.

The said section empowers certain income-tax authorities to call for information for the purpose of any inquiry or proceeding under the Act.

It is proposed to amend the first proviso of the said section so as to provide that the power in respect of inquiry or proceeding under the Act, as referred to in clause (6) of the said section, may also be exercised by the Joint Director, Deputy Director or Assistant Director.

It is further proposed to amend the second proviso of the said section, so as to provide that the Joint Director, Deputy Director or Assistant Director, in a case where no proceeding is pending, may exercise the powers in respect of inquiry without seeking prior approval of the authorities as specified in the said proviso.

These amendments will take effect from 1st April, 2017.

 
 
 
 
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