Amendment of section 140.
67. In section 140 of the Income-tax Act,––
(i) in clause (c), after the words “by any director thereof”, the words “or any other person, as may be prescribed for this purpose” shall be inserted;
(ii) in clause (cd), after the words “by any partner thereof”, the words “or any other person, as may be prescribed for this purpose” shall be inserted.
Notes on Clauses:
Clause 67 of the Bill seeks to amend section 140 of the Income-tax Act relating to return by whom to be verified.
The said section, inter alia, provides for who shall verify the return file under section 115WD or section 139 of the said Act.
It is proposed to amend the clauses (c) and (cd) of the said section so as to empower the Board to specify by rules any other person for the said purpose in case of company and limited liability partnership.
These amendments will take effect from 1st April, 2020.
