Amendment of section 245BC.
57. In section 245BC of the Income-tax Act, the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of February, 2021, namely:––
“Provided that the provisions of this section shall not apply on or after the 1st day of February, 2021.”.
Notes on Clauses:
Clause 57 of the Bill seeks to amend section 245BC of the said Act so as to provide that the existing provisions of the said section shall not apply on or after the 1st day of February, 2021.
This amendment will take effect retrospectively from lst February, 2021.
