Amendment of section 245C.
59. In section 245C of the Income-tax Act, after subsection (4), the following sub-section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of February, 2021, namely:––
“(5) No application shall be made under this section on or after the 1st day of February, 2021.”.
Notes on Clauses:
Clause 59 of the Bill seeks to amend section 245C of the said Act so as to provide that no application shall be made under this section on or after 1st day of February, 2021.
This amendment will take effect retrospectively from1st February, 2021.
