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Home Acts & Rules Bill Bills FINANCE BILL, 2021 Chapters List Chapter III DIRECT TAXES - Income-tax This
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Clause 40 - Amendment of section 151A. - FINANCE BILL, 2021

FINANCE BILL, 2021
Chapter III
DIRECT TAXES - Income-tax
  • Contents

Amendment of section 151A.

40. In section 151A of the Income-tax Act, in sub-section (1), in the opening portion, after the words and figures “issuance of notice under section 148”, the words, figures and letter “or conducting of enquiries or issuance of show-cause notice or passing of order under section 148A” shall be inserted.

 



 

Notes on Clauses:

Clause 40 of the Bill seeks to amend section 151A of the Income-tax Act relating to faceless assessment of income escaping assessment.

It is proposed to amend the said section so as to provide that conducting of enquiries or issuing show-cause notice or passing order under section 148A (before issuance of notice under section 148) in the scheme to be notified as specified under the said section.

This amendment will take effect from 1st April, 2021.

 
 
 
 
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