{"act":{"id":"finance-act-2006","short_title":"The Finance Act, 2006","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2006-2007.","act_number":null,"act_year":2006,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":66,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2006/"},"unit":"section","section":{"number":"32","heading":"Amendment of section139A","text":"Amendment of section 139A. 32. In section 139A of the Income-tax Act,— (a ) after sub-section (1A), the following sub-section shall be inserted with effect from the 1st day of June, 2006, namely:— \"(1B) Notwithstanding anything contained in sub-section (1), the Central Government may, for the purpose of collecting any information which may be useful for or relevant to the purposes of this Act, by notification in the Official Gazette, specify, any class or classes of persons who shall apply to the Assessing Officer for the allotment of the permanent account number and such persons shall, within such time as mentioned in that notification, apply to the Assessing Officer for the allotment of a permanent account number.\"; (b ) for sub-section (2), the following sub-section shall be substituted with effect from the 1st day of June, 2006, namely:— \"(2) The Assessing Officer, having regard to the nature of the transactions as may be prescribed, may also allot a permanent account number, to any other person (whether any tax is payable by him or not), in the manner and in accordance with the procedure as may be prescribed.\"; (c ) in sub-section (5B), after clause (iii), the following clause shall be inserted with effect from the 1st day of June, 2006, namely:­— \"(iv) in all quarterly statements prepared and delivered or caused to be delivered in accordance with the provisions of sub-section (3) of section 200:\"; (d ) in sub-section (5C), for the word \"seller\", the words \"person responsible for collecting tax\" shall be substituted with effect from the 1st day of April, 2007; (e ) in sub-section (5D),— (A) in the opening portion, for the word \"seller\", the word \"person\" shall be substituted with effect from the 1st day of April, 2007; (B) after clause (ii), the following clause shall be inserted with effect from the 1st day of June, 2006, namely:— \"(iii) in all quarterly statements prepared and delivered or caused to be delivered in accordance with the provisions of sub-section (3) of section 206C.\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 139A.</b></p><p><b>32.</b> In section 139A of the Income-tax Act,—</p><p>(<i>a</i> ) after sub-section (1A), the following sub-section shall be inserted with effect from the 1st day of June, 2006, namely:—</p><p>\"(1B) Notwithstanding anything contained in sub-section (1), the Central Government may, for the purpose of collecting any information which may be useful for or relevant to the purposes of this Act, by notification in the Official Gazette, specify, any class or classes of persons who shall apply to the Assessing Officer for the allotment of the permanent account number and such persons shall, within such time as mentioned in that notification, apply to the Assessing Officer for the allotment of a permanent account number.\";</p><p>(<i>b</i> ) for sub-section (2), the following sub-section shall be substituted with effect from the 1st day of June, 2006, namely:—</p><p>\"(2) The Assessing Officer, having regard to the nature of the transactions as may be prescribed, may also allot a permanent account number, to any other person (whether any tax is payable by him or not), in the manner and in accordance with the procedure as may be prescribed.\";</p><p>(<i>c</i> ) in sub-section (5B), after clause (<i>iii</i>), the following clause shall be inserted with effect from the 1st day of June, 2006, namely:­—</p><p>\"(<i>iv</i>) in all quarterly statements prepared and delivered or caused to be delivered in accordance with the provisions of sub-section (3) of section 200:\";</p><p>(<i>d</i> ) in sub-section (5C), for the word \"seller\", the words \"person responsible for collecting tax\" shall be substituted with effect from the 1st day of April, 2007;</p><p>(<i>e</i> ) in sub-section (5D),—</p><p>(<i>A</i>) in the opening portion, for the word \"seller\", the word \"person\" shall be substituted with effect from the 1st day of April, 2007;</p><p>(<i>B</i>) after clause (<i>ii</i>), the following clause shall be inserted with effect from the 1st day of June, 2006, namely:—</p><p>\"(<i>iii</i>) in all quarterly statements prepared and delivered or caused to be delivered in accordance with the provisions of sub-section (3) of section 206C.\".</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":342,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2006/section/32/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}