TMI BlogAmendment of Act 43 of 1961X X X X Extracts X X X X X X X X Extracts X X X X ..... e accrued or arisen to, or is received in respect of units held by a non-resident , the words and brackets 'convertible foreign exchange or as a result of transfer of securities (other than shares in a company resident in India) or any income from securities issued by a non-resident (not being a permanent establishment of a non-resident in India) and where such income otherwise does not accrue or arise in India or any income from a securitisation trust which is chargeable under the head profits and gains of business or profession , to the extent such income accrued or arisen to, or is received, is attributable to units held by non-resident (not being the permanent establishment of a non-resident in India) computed in the prescribed manner' shall be substituted; (ii) in the Explanation, after clause (b), the following clauses shall be inserted, namely:- '(ba) permanent establishment shall have the same meaning assigned to it in clause (iiia) of section 92F; (bb) securities shall have the same meaning as assigned to it in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and shall also include such other secu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) with effect from the 1st day of April, 2021, the following provisos shall be substituted, namely:- Provided that the exemption to the fund or trust or institution or university or other educational institution or hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via), under the respective sub-clauses, shall not be available to it unless such fund or trust or institution or university or other educational institution or hospital or other medical institution makes an application in the prescribed form and manner to the Principal Commissioner or Commissioner, for grant of approval,- (i) where such fund or trust or institution or university or other educational institution or hospital or other medical institution is approved under the second proviso [as it stood immediately before its amendment by the Taxation and Other Laws (Relaxation and Amendment of Certain provisions) Act, 2020], within three months from the 1st day of April, 2021; (ii) where such fund or trust or institution or university or other educational institution or hospital or other medical institution is approved and the perio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... other educational institution or hospital or other medical institution: ; (iii) for the eighth and ninth provisos,- (A) with effect from the 1st day of June, 2020, the following provisos shall be substituted and shall be deemed to have been substituted, namely:- Provided also that any notification issued by the Central Government under sub-clause (iv) or sub-clause (v), before the date on which the Taxation Laws (Amendment) Bill, 2006 receives the assent of the President, shall, at any one time, have effect for such assessment year or years, not exceeding three assessment years (including an assessment year or years commencing before the date on which such notification is issued) as may be specified in the notification: Provided also that where an application under the first proviso is made on or after the date on which the Taxation Laws (Amendment) Bill, 2006 receives the assent of the President, every notification under sub-clause (iv) or sub-clause (v) shall be issued or approval under sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) shall be granted or an order rejecting the application shall be passed within the period of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that all pending applications, on which no notification has been issued under sub-clause (iv) or sub-clause (v) before the 1st day of June, 2007, shall stand transferred on that day to the prescribed authority and the prescribed authority may proceed with such applications under those sub-clauses from the stage at which they were on that day: ; (B) with effect from the 1st day of April, 2021, the following proviso shall be substituted, namely:- Provided also that all applications made under the first proviso [as it stood before its amendment by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020] pending before the Principal Commissioner or Commissioner, on which no order has been passed before the 1st day of April, 2021, shall be deemed to be applications made under clause (iv) of the first proviso on that date: ; (c) after clause (23FBB), the following clause shall be inserted, with effect from the 1st day of April, 2021, namely:- (23FBC) any income accruing or arising to, or received by, a unit holder from a specified fund or on transfer of units in a specified fund. Explanation .-For the purposes of this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... following clause shall be inserted, namely:- (ac) notwithstanding anything contained in clauses (a) to (ab), the person in receipt of the income has made an application in the prescribed form and manner to the Principal Commissioner or Commissioner, for registration of the trust or institution,- (i) where the trust or institution is registered under section 12A [as it stood immediately before its amendment by the Finance (No. 2) Act, 1996 (33 of 1996)] or under section 12AA [as it stood immediately before its amendment by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020], within three months from the 1st day of April, 2021; (ii) where the trust or institution is registered under section 12AB and the period of the said registration is due to expire, at least six months prior to expiry of the said period; (iii) where the trust or institution has been provisionally registered under section 12AB, at least six months prior to expiry of period of the provisional registration or within six months of commencement of its activities, whichever is earlier; (iv) where registration of the trust or institution has become i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o the trust or institution under section 12AA or section 12AB ; (ii) in the second proviso, for the words Provided further , the words Provided also shall be substituted; (iii) in the fourth proviso, for the word, figures and letters section 12AA , the words, figures and letters section 12AA or section 12AB shall be substituted; (V) in section 12AA,- (a) sub-section (5) shall be omitted and shall be deemed to have been omitted with effect from the 1st day of June, 2020; (b) after sub-section (4), the following sub-section shall be inserted with effect from the 1st day of April, 2021, namely:- (5) Nothing contained in this section shall apply on or after the 1st day of April, 2021. ; (VI) section 12AB shall be omitted and shall be deemed to have been omitted with effect from the 1st day of June, 2020; (VII) after section 12AA, the following section shall be inserted with effect from the 1st day of April, 2021, namely:- Procedure for fresh registration. 12AB. (1) The Principal Commissioner or Commissioner, on receipt of an application made under clause (ac) of sub-section (1) of section 12A, shall,- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oner is satisfied that the activities of such trust or institution are not genuine or are not being carried out in accordance with the objects of the trust or institution, as the case may be, he shall pass an order in writing cancelling the registration of such trust or institution after affording a reasonable opportunity of being heard. (5) Without prejudice to the provisions of sub-section (4), where registration of a trust or an institution has been granted under clause (a) or clause (b) of sub-section (1) and subsequently, it is noticed that- (a) the activities of the trust or the institution are being carried out in a manner that the provisions of sections 11 and 12 do not apply to exclude either whole or any part of the income of such trust or institution due to operation of sub-section (1) of section 13; or (b) the trust or institution has not complied with the requirement of any other law, as referred to in item (B) of sub-clause (i) of clause (b) of sub-section (1), and the order, direction or decree, by whatever name called, holding that such non-compliance has occurred, has either not been disputed or has attained finality, then, the Principal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... kes an intimation in such form and manner, as may be prescribed, to the prescribed income-tax authority within three months from the date on which this proviso has come into force, and subject to such intimation the notification shall be valid for a period of five consecutive assessment years beginning with the assessment year commencing on or after the 1st day of April, 2022: Provided also that any notification issued by the Central Government under clause (ii) or clause (iia) or clause (iii), after the date on which the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020 receives the assent of the President, shall, at any one time, have effect for such assessment year or years, not exceeding five assessment years as may be specified in the notification. ; (b) sub-section (1A) shall be omitted and shall be deemed to have been omitted with effect from the 1st day of June, 2020; (c) after sub-section (1), the following sub-section shall be inserted with effect from the 1st day of April, 2021, namely:- (1A) Notwithstanding anything contained in sub-section (1), the research association, university, college or other institut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall be substituted; (b) in the first proviso, for the words National Committee , the words and brackets the Principal Chief Commissioner of Income Tax (Exemption) or the Chief Commissioner of Income Tax (Exemption) shall be substituted; (iii) in sub-section (6), in clause (ii), after the words National Committee , the words and brackets or the Principal Chief Commissioner of Income Tax (Exemption) or the Chief Commissioner of Income Tax (Exemption), as the case may be, shall be inserted; (XI) in section 56, in sub-section (2),- (a) with effect from the 1st day of June, 2020,- (i) in clause (v), in the proviso, in clause (g), for the words, figures and letters section 12AA or section 12AB , the word, figures and letters section 12AA shall be substituted and shall be deemed to have been substituted; (ii) in clause (vi), in the proviso, in clause (g), for the words, figures and letters section 12AA or section 12AB , the word, figures and letters section 12AA shall be substituted and shall be deemed to have been substituted; (iii) in clause (vii), in the second proviso, in clause (g), for the words, figures and letters s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ; (B) after clause (vii), the following clauses shall be inserted, namely:- (viii) the institution or fund prepares such statement for such period as may be prescribed and deliver or cause to be delivered to the prescribed income-tax authority or the person authorised by such authority such statement in such form and verified in such manner and setting forth such particulars and within such time as may be prescribed: Provided that the institution or fund may also deliver to the said prescribed authority, a correction statement for rectification of any mistake or to add, delete or update the information furnished in the statement delivered under this sub-section in such form and verified in such manner as may be prescribed; and (ix) the institution or fund furnishes to the donor, a certificate specifying the amount of donation in such manner, containing such particulars and within such time from the date of receipt of donation, as may be prescribed: Provided that the institution or fund referred to in clause (vi) shall make an application in the prescribed form and manner to the Principal Commissioner or Commissioner, for grant of approval,- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... may be prescribed, before expiry of the period of three months, six months and one month, respectively, calculated from the end of the month in which the application was received: Provided also that the approval granted under the second proviso shall apply to an institution or fund, where the application is made under- (a) clause (i) of the first proviso, from the assessment year from which approval was earlier granted to such institution or fund; (b) clause (iii) of the first proviso, from the first of the assessment years for which such institution or fund was provisionally approved; (c) in any other case, from the assessment year immediately following the financial year in which such application is made. ; (c) sub-section (5E) shall be omitted and shall be deemed to have been omitted with effect from the 1st day of June, 2020; (d) after sub-section (5D), the following sub-section shall be inserted with effect from the 1st day of April, 2021, namely:- (5E) All applications, pending before the Commissioner on which no order has been passed under clause (vi) of sub-section (5) before the date on which this sub-section has come into ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... April, 2021,- (a) in sub-section (1),- (i) in the opening portion, for the words Foreign Institutional Investor , the words specified fund or Foreign Institutional Investor shall be substituted; 1 [ (ii) after the long line, for clause (i), the following clause shall be substituted, namely:- (i) the amount of income-tax calculated on the income in respect of securities referred to in clause (a), if any, included in the total income,- (A) at the rate of twenty per cent. in case of Foreign Institutional Investor; (B) at the rate of ten per cent. in case of specified fund: Provided that the amount of income-tax calculated on the income by way of interest referred to in section 194LD shall be at the rate of five per cent.; ; ] (iii) in clause (iv), for the words Foreign Institutional Investor , the words specified fund or Foreign Institutional Investor shall be substituted; (b) after sub-section (1), the following sub-section shall be inserted, namely:- (1A) Notwithstanding anything contained in sub-section (1), in case of specified fund, the provision of this section shall apply only to the extent of income that is attribut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ect from the 1st day of November, 2020, namely:- Faceless jurisdiction of income-tax authorities. 130. (1) The Central Government may make a scheme, by notification in the Official Gazette, for the purposes of- (a) exercise of all or any of the powers and performance of all or any of the functions conferred on, or, as the case may be, assigned to income-tax authorities by or under this Act as referred to in section 120; or (b) vesting the jurisdiction with the Assessing Officer as referred to in section 124; or (c) exercise of power to transfer cases under section 127; or (d) exercise of jurisdiction in case of change of incumbency as referred to in section 129, so as to impart greater efficiency, transparency and accountability by- (i) eliminating the interface between the income-tax authority and the assessee or any other person, to the extent technologically feasible; (ii) optimising utilisation of the resources through economies of scale and functional specialisation; (iii) introducing a team-based exercise of powers and performance of functions by two or more income-tax authorities, concurrently, in respe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n (3), the following sub-section shall be inserted, namely:- (4) The scheme made under sub-section (3) shall cease to have effect from the date on which the scheme notified under section 135A in respect of this section comes into effect. ; (XXI) after section 135, the following section shall be inserted with effect from the 1st day of November, 2020, namely:- Faceless collection of information. 135A. (1) The Central Government may make a scheme, by notification in the Official Gazette, for the purposes of calling for information under section 133, collecting certain information under section 133B, or calling for information by prescribed income-tax authority under section 133C, or exercise of power to inspect register of companies under section 134, or exercise of power of Assessing Officer under section 135 so as to impart greater efficiency, transparency and accountability by- (a) eliminating the interface between the income-tax authority and the assessee or any other person to the extent technologically feasible; (b) optimising utilisation of the resources through economies of scale and functional specialisation; (c) introduci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (XXIII) in section 143, with effect from the 1st day of April, 2021,- (i) in sub-section (3B), in the proviso, for the figures 2022 , the figures 2021 shall be substituted; (ii) after sub-section (3C), the following sub-section shall be inserted, namely:- (3D) Nothing contained in sub-section (3A) and sub-section (3B) shall apply to the assessment made under sub-section (3) or under section 144, as the case may be, on or after the 1st day of April, 2021. ; (XXIV) after section 144A, the following section shall be inserted with effect from the 1st day of April, 2021, namely:- Faceless assessment. '144B. (1) Notwithstanding anything to the contrary contained in any other provisions of this Act, the assessment under sub-section (3) of section 143 or under section 144, in the cases referred to in sub-section (2), shall be made in a faceless manner as per the following procedure, namely:- (i) the National Faceless Assessment Centre shall serve a notice on the assessee under sub-section (2) of section 143; (ii) the assessee may, within fifteen days from the date of receipt of notice referred to in clause (i), file his resp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quest shall be assigned by the National Faceless Assessment Centre to a verification unit in any one Regional Faceless Assessment Centre through an automated allocation system; (ix) where a request for seeking technical assistance from the technical unit has been made by the assessment unit, the request shall be assigned by the National Faceless Assessment Centre to a technical unit in any one Regional Faceless Assessment Centre through an automated allocation system; (x) the National Faceless Assessment Centre shall send the report received from the verification unit or the technical unit, based on the request referred to in clause (viii) or clause (ix) to the concerned assessment unit; (xi) where the assessee fails to comply with the notice referred to in clause (vi) or notice issued under sub-section (1) of section 142 or with a direction issued under sub-section (2A) of section 142, the National Faceless Assessment Centre shall serve upon such assessee a notice under section 144 giving him an opportunity to show-cause, on a date and time to be specified in the notice, why the assessment in his case should not be completed to the best of its judgment; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Centre whereupon it may decide to- (a) concur with the draft assessment order and intimate the National Faceless Assessment Centre about such concurrence; or (b) suggest such variation, as it may deem fit, in the draft assessment order and send its suggestions to the National Faceless Assessment Centre; (xviii) the National Faceless Assessment Centre shall, upon receiving concurrence of the review unit, follow the procedure laid down in- (a) sub-clause (a) of clause (xvi); or (b) sub-clause (b) of clause (xvi); (xix) the National Faceless Assessment Centre shall, upon receiving suggestions for variation from the review unit, assign the case to an assessment unit, other than the assessment unit which has made the draft assessment order, through an automated allocation system; (xx) the assessment unit shall, after considering the variations suggested by the review unit, send the final draft assessment order to the National Faceless Assessment Centre; (xxi) the National Faceless Assessment Centre shall, upon receiving final draft assessment order follow the procedure laid down in- (a) sub-clause (a) of clause (xvi); or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee on the basis of such assessment; (b) in case the variations proposed in the revised draft assessment order are prejudicial to the interest of the assessee in comparison to the draft assessment order or the final draft assessment order, provide an opportunity to the assessee, by serving a notice calling upon him to show-cause as to why the proposed variation should not be made; (xxvi) the procedure laid down in clauses (xxiii), (xxiv) and (xxv) shall apply mutatis mutandis to the notice referred to in sub-clause (b) of clause (xxv); (xxvii) where the draft assessment order or final draft assessment order or revised draft assessment order is forwarded to the eligible assessee as per item (A) of sub-clause (a) of clause (xxiii) or item (A) of sub-clause (a) of clause (xxv), such assessee shall, within the period specified in sub-section (2) of section 144C, file his acceptance of the variations to the National Faceless Assessment Centre; (xxviii) the National Faceless Assessment Centre shall,- (a) upon receipt of acceptance as per clause (xxvii); or (b) if no objections are received from the eligible assessee within the period sp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the conduct of faceless assessment proceedings in the cadre controlling region of a Principal Chief Commissioner, which shall be vested with the jurisdiction to make faceless assessment; (iii) assessment units, as it may deem necessary to facilitate the conduct of faceless assessment, to perform the function of making assessment, which includes identification of points or issues material for the determination of any liability (including refund) under the Act, seeking information or clarification on points or issues so identified, analysis of the material furnished by the assessee or any other person, and such other functions as may be required for the purposes of making faceless assessment; (iv) verification units, as it may deem necessary to facilitate the conduct of faceless assessment, to perform the function of verification, which includes enquiry, cross verification, examination of books of account, examination of witnesses and recording of statements, and such other functions as may be required for the purposes of verification; (v) technical units, as it may deem necessary to facilitate the conduct of faceless assessment, to perform the function of prov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he circumstances referred to in sub-clause (g) of clause (xii) of sub-section (7). (7) For the purposes of faceless assessment- (i) an electronic record shall be authenticated by- (a) the National Faceless Assessment Centre by affixing its digital signature; (b) assessee or any other person, by affixing his digital signature if he is required to furnish his return of income under digital signature, and in any other case, by affixing his digital signature or under electronic verification code in the prescribed manner; (ii) every notice or order or any other electronic communication shall be delivered to the addressee, being the assessee, by way of- (a) placing an authenticated copy thereof in the assessee's registered account; or (b) sending an authenticated copy thereof to the registered email address of the assessee or his authorised representative; or (c) uploading an authenticated copy on the assessee's Mobile App, and followed by a real time alert; (iii) every notice or order or any other electronic communication shall be delivered to the addressee, being any other person, by sending an authenticated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee or any other person (other than statement recorded in the course of survey under section 133A of the Act) shall be conducted by an income-tax authority in any unit, exclusively through video conferencing or video telephony, including use of any telecommunication application software which supports video conferencing or video telephony in accordance with the procedure laid down by the Board; (xi) the Board shall establish suitable facilities for video conferencing or video telephony including telecommunication application software which supports video conferencing or video telephony at such locations as may be necessary, so as to ensure that the assessee, or his authorised representative, or any other person is not denied the benefit of faceless assessment merely on the consideration that such assessee or his authorised representative, or any other person does not have access to video conferencing or video telephony at his end; (xii) the Principal Chief Commissioner or the Principal Director General, in charge of the National Faceless Assessment Centre shall, with the prior approval of the Board, lay down the standards, procedures and processes for effective ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such verification unit. ] Explanation.-In this section, unless the context otherwise requires- (a) addressee shall have the same meaning as assigned to it in clause (b) of sub-section (1) of section 2 of the Information Technology Act, 2000 (21 of 2000); (b) authorised representative shall have the same meaning as assigned to it in sub-section (2) of section 288; (c) automated allocation system means an algorithm for randomised allocation of cases, by using suitable technological tools, including artificial intelligence and machine learning, with a view to optimise the use of resources; (d) automated examination tool means an algorithm for standardised examination of draft orders, by using suitable technological tools, including artificial intelligence and machine learning, with a view to reduce the scope of discretion; (e) computer resource shall have the same meaning as assigned to it in clause (k) of sub-section (1) of section 2 of the Information Technology Act, 2000 (21 of 2000); (f) computer system shall have the same meaning as assigned to it in clause (l) of sub-section (1) of section 2 of the Information Techn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Mobile App, or by way of an email at his registered email address, so as to alert him regarding delivery of an electronic communication; (s) registered account of the assessee means the electronic filing account registered by the assessee in designated portal; (t) registered e-mail address means the e-mail address at which an electronic communication may be delivered or transmitted to the addressee, including- (i) the e-mail address available in the electronic filing account of the addressee registered in designated portal; or (ii) the e-mail address available in the last income-tax return furnished by the addressee; or (iii) the e-mail address available in the Permanent Account Number database relating to the addressee; or (iv) in the case of addressee being an individual who possesses the Aadhaar number, the e-mail address of addressee available in the database of Unique Identification Authority of India; or (v) in the case of addressee being a company, the e-mail address of the company as available on the official website of Ministry of Corporate Affairs; or (vi) any e-mail address made available by the addressee to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... impart greater efficiency, transparency and accountability by- (a) eliminating the interface between the income-tax authority and the assessee or any other person to the extent technologically feasible; (b) optimising utilisation of the resources through economies of scale and functional specialisation; (c) introducing a team-based assessment, reassessment, re-computation or issuance or sanction of notice with dynamic jurisdiction. (2) The Central Government may, for the purpose of giving effect to the scheme made under sub-section (1), by notification in the Official Gazette, direct that any of the provisions of this Act shall not apply or shall apply with such exceptions, modifications and adaptations as may be specified in the notification: Provided that no direction shall be issued after the 31st day of March, 2022. (3) Every notification issued under sub-section (1) and sub-section (2) shall, as soon as may be after the notification is issued, be laid before each House of Parliament. ; (XXVII) after section 157, the following section shall be inserted with effect from the 1st day of November, 2020, namely:- Faceless rec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom the 14th day of May, 2020, namely:- Lower deduction in certain cases for a limited period. 197B. In case the provisions of sections 193, 194, 194A, 194C, 194D, 194DA,194EE, 194F, 194G, 194H, 194-I,194-IA, 194-IB, 194-IC, 194J, 194K,194LA, sub-section (1) of section 194LBA, clause (i) of section 194LBB, sub-section (1) of section 194LBC, sections 194M and 194-O require deduction of tax at source during the period commencing from the 14th day of May, 2020 to the 31st day of March, 2021, then notwithstanding anything contained in these sections the deduction of tax shall be made at the rate being the three-fourth of the rate specified in these sections. ; (XXX) in section 206C, after sub-section (10), the following sub-section shall be inserted and shall be deemed to have been inserted with effect from the 14th day of May, 2020, namely:- (10A) In case the provisions of sub-sections (1) [except the goods referred at serial number (i) in the TABLE], (1C), (1F) or (1H) require collection of tax at source during the period commencing from the 14th day of May, 2020 to the 31 st day of March, 2021, then, notwithstanding anything contained in these sub-se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dment or cancellation thereof, by, or jurisdiction of, Tax Recovery Officer or other modes of recovery or issuance of tax clearance certificate, with dynamic jurisdiction. (2) The Central Government may, for the purpose of giving effect to the scheme made under sub-section (1), by notification in the Official Gazette, direct that any of the provisions of this Act shall not apply or shall apply with such exceptions, modifications and adaptations as may be specified in the notification: Provided that no direction shall be issued after the 31st day of March, 2022. (3) Every notification issued under sub-section (1) and sub-section (2) shall, as soon as may be after the notification is issued, be laid before each House of Parliament. ; (XXXII) in section 253,- (a) in sub-section (1), in clause (c),- (i) for the words, figures and letters under section 12AA or section 12AB , the words, figures and letters under section 12AA shall be substituted and shall be deemed to have been substituted with effect from the 1st day of June, 2020; (ii) for the words, figures and letters under section 12AA , the words, figures and letters under secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the extent technologically feasible; (b) optimising utilisation of the resources through economies of scale and functional specialisation; (c) introducing a team-based revision of orders, with dynamic jurisdiction. (2) The Central Government may, for the purpose of giving effect to the scheme made under sub-section (1), by notification in the Official Gazette, direct that any of the provisions of this Act shall not apply or shall apply with such exceptions, modifications and adaptations as may be specified in the notification: Provided that no direction shall be issued after the 31st day of March, 2022. (3) Every notification issued under sub-section (1) and sub-section (2) shall, as soon as may be after the notification is issued, be laid before each House of Parliament. Faceless effect of orders. 264B. (1) The Central Government may make a scheme, by notification in the Official Gazette, for the purposes of giving effect to an order under section 250, 254, 260, 262, 263 or 264, so as to impart greater efficiency, transparency and accountability by- (a) eliminating the interface between the income-tax authority and the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section 279, after sub-section (3), the following sub-sections shall be inserted with effect from the 1st day of November, 2020, namely:- (4) The Central Government may make a scheme, by notification in the Official Gazette, for the purposes of granting sanction under sub-section (1) or compounding under sub-section (2), so as to impart greater efficiency, transparency and accountability by- (a) eliminating the interface between the income-tax authority and the assessee or any other person to the extent technologically feasible; (b) optimising utilisation of the resources through economies of scale and functional specialisation; (c) introducing a team-based sanction to proceed against, or for compounding of, an offence, with dynamic jurisdiction. (5) The Central Government may, for the purpose of giving effect to the scheme made under sub-section (4), by notification in the Official Gazette, direct that any of the provisions of this Act shall not apply or shall apply with such exceptions, modifications and adaptations as may be specified in the notification: Provided that no direction shall be issued after the 31st day of March, 2022. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
