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Conditions u/s 12A for Claiming Exemption u/s 11 & 12 - Filing of Return of income u/s 139 made mandatory within the time allowed - Budget 2017-18 w.e.f. AY 2018-19

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Dated: 2-2-2017

Clause - 009 - Amendment of section 12A.

THE FINANCE BILL, 2017

Clause 9 of the Bill seeks to amend section 12A of the Income-tax Act relating to conditions for applicability of sections 11 and 12.

It is also proposed to insert a new clause (c) in sub-section (1) of the said section so as to provide that the person in receipt of the income shall furnish the return of income referred to in sub-section (4A) of section 139 within the time allowed under that section.

These amendments will take effect from 1st April, 2018 and will, accordingly, apply in relation to assessment year 2018-2019 and subsequent years.

 

 

 
 
 
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