Tax Management India. Com
                        Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News
Highlights
D. Forum
What's New
Sub-Menu

Share:      

        Home        
 
Statutory Provisions
Home Acts & Rules Bill Bills FINANCE BILL, 2021 Chapters List Chapter III DIRECT TAXES - Income-tax This
← Previous Next →

Clause 43 - Amendment of section 153C. - FINANCE BILL, 2021

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

Amendment of section 153C.

43. In section 153C of the Income-tax Act, after sub-section (2), the following sub-section shall be inserted, namely:-

“(3) Nothing contained in this section shall apply in relation to a search initiated under section 132 or books of account, other documents or any assets requisitioned under section 132A on or after the 1st day of April, 2021.”.

 



 

Notes on Clauses:

Clause 43 of the Bill seeks to amend section 153C of the Income-tax Act relating to assessment of income of any other person.

It is proposed to amend the said section so as to insert sub-section (3) therein to provide that nothing contained in the said section shall apply in relation to a search initiated under section 132 or books of account, other documents or any assets requisitioned under section 132A on or after 1st day of April, 2021.

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

 
 
 
 
← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||