{"act":{"id":"finance-act-2017","short_title":"The Finance Act, 2017","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2017-2018.","act_number":null,"act_year":2017,"enact_date":"2017-04-17","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":198,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2017/"},"unit":"section","section":{"number":"58","heading":"Amendment of section 143","text":"Amendment of section 143. 58. In section 143 of the Income-tax Act,— (a) | in sub-section (1), with effect from the 1st day of April, 2018,— (i) | in clause (b), for the words \"and interest\", the words \", interest and fee\" shall be substituted; (ii) | in clause (c),— (A) | for the words \"and interest\", the words \", interest and fee\" shall be substituted; (B) | for the words \"or interest\", the words \", interest or fee\" shall be substituted; (iii) | in the first proviso, for the words \"or interest\", the words \", interest or fee\" shall be substituted; (b) | for sub-section (1D) [as substituted by section 68 of the Finance Act, 2016 (28 of 2016)], the following shall be substituted, namely:— \"(1D) Notwithstanding anything contained in sub-section (1), the processing of a return shall not be necessary, where a notice has been issued to the assessee under sub-section (2): Provided that the provisions of this sub-section shall not apply to any return furnished for the assessment year commencing on or after the 1st day of April, 2017.\". (c) | in sub-section (3), for the portion beginning with the words \"On the day specified in the notice\" and ending with the words, brackets and letters \"issued under clause (ii) of\", the words \"On the day specified in the notice issued under\" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of June, 2016.","html":"<p><b> Amendment of section 143.</b></p><p><b> 58. </b>In section 143 of the Income-tax Act,<i>—</i></p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in sub-section (1), with effect from the 1st day of April, 2018,<i>—</i></td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in clause (<i>b</i>), for the words \"and interest\", the words \", interest and fee\" shall be substituted;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>in clause (<i>c</i>),<i>—</i></td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>A</i>)</td><td></td><td>for the words \"and interest\", the words \", interest and fee\" shall be substituted;</td></tr><tr><td>(<i>B</i>)</td><td></td><td>for the words \"or interest\", the words \", interest or fee\" shall be substituted;</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>iii</i>)</td><td></td><td>in the first proviso, for the words \"or interest\", the words \", interest or fee\" shall be substituted;</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>b</i>)</td><td></td><td>for sub-section (1D) [as substituted by section 68 of the Finance Act, 2016 (28 of 2016)], the following shall be substituted, namely:<i>—</i></td></tr><tr><td></td><td></td><td>\"(1D) Notwithstanding anything contained in sub-section (1), the processing of a return shall not be necessary, where a notice has been issued to the assessee under sub-section (<i>2</i>):</td></tr><tr><td></td><td></td><td><b>Provided</b> that the provisions of this sub-section shall not apply to any return furnished for the assessment year commencing on or after the 1st day of April, 2017.\".</td></tr><tr><td>(<i>c</i>)</td><td></td><td>in sub-section (3), for the portion beginning with the words \"On the day specified in the notice\" and ending with the words, brackets and letters \"issued under clause (<i>ii</i>) of\", the words \"On the day specified in the notice issued under\" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of June, 2016.</td></tr></table></div>","words":245,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2017/section/58/","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."}