TMI BlogMEMORANDUM REGARDING DELEGATED LEGISLATIONX X X X Extracts X X X X X X X X Extracts X X X X ..... amount of application under this proviso. It is proposed to amend the tenth proviso to the said clause (23C) of the said section. Clause (a) of the said proviso provides for form, manner and place for keeping and maintaining the books of account and other documents to be provided by rules. Clause (b) of the said proviso provides for the form and manner in which the report of such audit shall be signed and verified by the accountant and setting forth such particulars, as may be provided by rules. Clause 6 seeks to amend section 12A of the Income-tax Act relating to conditions for applicability of sections 11 and 12. Clause (b) of sub-section (1) of the said section 12A provides that the provisions of section 11 and secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d date, exceeds the total liability of such specified person, computed in accordance with the method of valuation, as may be provided by rules. Clause 38 seeks to amend section 139 of the Income-tax Act relating to return of income. It is proposed to insert a new sub-section (8A) in the said section to provide that any person, whether or not he has furnished a return under sub-section (1), sub-section (4) or sub-section (5), for an assessment year (herein referred to as the relevant assessment year), may furnish an updated return of his income or the income of any other person in respect of which he is assessable under the Income-tax Act, for the previous year relevant to such assessment year, in the prescribed form, verified ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng paid such tax to the credit of the Central Government within a period of thirty days from the date of payment of such tax, in such form and manner as may be provided by rules. Indirect Taxes Clause 100 seeks to amend clause (c) of sub-section (2) of section 29 of the Central Goods and Services Tax Act so as to provide by rules continuous tax periods for which return has not been furnished, which would make a registration liable for cancellation, in respect of any registered person, other than a person specified in clause (b) thereof. Clause 103 seeks to substitute a new section for section 38 of the Central Goods and Services Tax Act. Sub-section (1) seeks to empower the Central Government to make rules to specify ..... X X X X Extracts X X X X X X X X Extracts X X X X
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