Amendment of section 245C

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..... onal amount of income-tax payable on the income disclosed in the application exceeds three lakh rupees; and (ii) such tax and the interest thereon, which would have been paid under the provisions of this Act had the income disclosed in the application been declared in the return of income before the Assessing Officer on the date of application, has been paid on or before the date of making the ap .....

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..... if such aggregate were the total income."; (iv) in sub-section (1C), clause (c) shall be omitted; (v) after sub-section (3), the following sub-section shall be inserted, namely:— "(4) An assessee shall, on the date on which he makes an application under sub-section (1) to the Settlement Commission, also intimate the Assessing Officer in the prescribed manner of having made such application to .....

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