{"act":{"id":"finance-act-2011","short_title":"The Finance Act, 2011","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2011-2012.","act_number":null,"act_year":2011,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":36,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2011/"},"unit":"section","section":{"number":"24","heading":"Amendment of section 139","text":"Amendment of section 139. 24. In section 139 of the Income-tax Act,— (a ) in sub-section (1), in Explanation 2,— (i)  in clause ( a), in sub-clause (i),  after the words \"a company\", the words, brackets and letters \"other than a company referred to in clause (aa)\"  shall be inserted; (ii)  after clause ( a), the following clause shall be inserted, namely:— \"( aa) in the case of an assessee being a company, which is required to furnish a report referred to in section 92E, the 30th day of November of the assessment year;\"; (b ) after sub-section (1B), the following sub-section shall be inserted with effect from the 1st day of June, 2011, namely:— \"(1C ) Notwithstanding anything contained in sub-section (1), the Central Government may, by notification in the Official Gazette, exempt any class or classes of persons from the requirement of furnishing a return of income having regard to such conditions as may be specified in that notification.\"; (c ) in sub-section (4C), with effect from the 1st day of June, 2011,— (i)  after clause ( f) and before the words \"shall, if the total income\", the following clauses shall be inserted, namely:— \"( g)  body or authority or Board or Trust or Commission (by whatever name called) referred to in clause (46)  of section 10; ( h)  infrastructure debt fund referred to in clause (47)  of section 10,\"; (ii)  after the words \"medical institution or trade union\", the words \"or body or authority or Board or Trust or Commission or infrastructure debt fund\" shall be inserted. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 139.</b></p><p><b>24.</b> In section 139 of the Income-tax Act,—</p><p>(<i>a</i> )<i> </i>in sub-section (1), in <i>Explanation 2</i>,—</p><p>(<i>i</i>) <i> </i>in clause ( <i>a</i>)<i>, </i>in sub-clause (<i>i</i>)<i>, </i> after the words \"a company\", the words, brackets and letters \"other than a company referred to in clause (<i>aa</i>)\" <i> </i>shall be inserted;</p><p>(<i>ii</i>) <i> </i>after clause ( <i>a</i>)<i>, </i>the following clause shall be inserted, namely:—</p><p><i> </i>\"( <i>aa</i>)<i> </i>in the case of an assessee being a company, which is required to furnish a report referred to in section 92E, the 30th day of November of the assessment year;\";</p><p>(<i>b</i> )<i> </i>after sub-section (1B), the following sub-section shall be inserted with effect from the 1st day of June, 2011, namely:—</p><p><i> </i>\"(<i>1C</i> )<i> </i>Notwithstanding anything contained in sub-section (1), the Central Government may, by notification in the Official Gazette, exempt any class or classes of persons from the requirement of furnishing a return of income having regard to such conditions as may be specified in that notification.\";</p><p>(<i>c</i> )<i> </i>in sub-section (4C), with effect from the 1st day of June, 2011,—</p><p>(<i>i</i>) <i> </i>after clause ( <i>f</i>)<i> </i>and before the words \"shall, if the total income\", the following clauses shall be inserted, namely:—</p><p><i> \"</i>( <i>g</i>)<i> </i> body or authority or Board or Trust or Commission (by whatever name called) referred to in clause (<i>46</i>) <i> </i>of section 10;</p><p><i> </i>( <i>h</i>)<i> </i> infrastructure debt fund referred to in clause (<i>47</i>) <i> </i>of section 10,\";</p><p>(<i>ii</i>) <i> </i>after the words \"medical institution or trade union\", the words \"or body or authority or Board or Trust or Commission or infrastructure debt fund\" shall be inserted.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":266,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2011/section/24/","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."}