{"act":{"id":"finance-act-2016","short_title":"The Finance Act, 2016","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2016-2017.","act_number":null,"act_year":2016,"enact_date":"2016-06-27","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":276,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2016/"},"unit":"section","section":{"number":"67","heading":"Amendment of section 139","text":"Amendment of section 139. 67. In section 139 of the Income-tax Act,— (i) | in sub-section (1), in the sixth proviso, for the words, figures and letter \"provisions of section 10A\", the words, brackets, figures and letter \"provisions of clause (38) of section 10 or section 10A\" shall be substituted with effect from the 1st day of April, 2017; (ii) | in sub-section (3), after the words, brackets and figures \"sub-section (2) of section 73\", the words, brackets, figures and letter \"or sub-section (2) of section 73A\" shall be inserted; (iii) | with effect from the 1st day of April, 2017,— (a) | for sub-section (4), the following sub-section shall be substituted, namely:— \"(4) Any person who has not furnished a return within the time allowed to him under sub-section (1), may furnish the return for any previous year at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.\"; (b) | for sub-section (5), the following sub-section shall be substituted, namely:— \"(5) If any person, having furnished a return under sub-section (1) or sub-section (4), discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.\"; (c) | in sub-section (9), in the Explanation, clause (aa) shall be omitted.","html":"<p><b>Amendment of section 139.</b></p><p><b>67.</b> In section 139 of the Income-tax Act,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in sub-section (1), in the sixth proviso, for the words, figures and letter \"provisions of section 10A\", the words, brackets, figures and letter \"provisions of clause (<i>38</i>) of section 10 or section 10A\" shall be substituted with effect from the 1st day of April, 2017;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>in sub-section (3), after the words, brackets and figures \"sub-section (2) of section 73\", the words, brackets, figures and letter \"or sub-section (2) of section 73A\" shall be inserted;</td></tr><tr><td>(<i>iii</i>)</td><td></td><td>with effect from the 1st day of April, 2017,—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>for sub-section (4), the following sub-section shall be substituted, namely:—</td></tr><tr><td></td><td></td><td>\"(4) Any person who has not furnished a return within the time allowed to him under sub-section (1), may furnish the return for any previous year at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.\";</td></tr><tr><td>(<i>b</i>)</td><td></td><td>for sub-section (5), the following sub-section shall be substituted, namely:—</td></tr><tr><td></td><td></td><td>\"(5) If any person, having furnished a return under sub-section (1) or sub-section (4), discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.\";</td></tr><tr><td>(<i>c</i>)</td><td></td><td>in sub-section (9), in the <i>Explanation</i>, clause (<i>aa</i>) shall be omitted.</td></tr></table></div>","words":240,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2016/section/67/","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."}