Amendment of section 139
Section 42 of the Finance Act, 1996 deals with amendment of section 139. Amendment of section 139. 42. In section 139 of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 1997,— (a) the Explanation shall be renumbered as Explanation 1 and in the Explanation 1 as so renumbered, in clause (b), for sub-clause (i), the following sub-clause shall
Amendment of section 139.
42. In section 139 of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 1997,—
(a) the Explanation shall be renumbered as Explanation 1 and in the Explanation 1 as so renumbered, in clause (b), for sub-clause (i), the following sub-clause shall be substituted, namely:—
"(i) in a case where the accounts of the assessee are required under this Act or any other law to be audited or where the report of an accountant is required to be furnished under section 80HHC or section 80HHD or where the prescribed certificate is required to be furnished under section 80R or section 80RR or sub-section (1) of section 80RRA, or in the case of a co-operative society or in the case of a' working partner of a firm whose accounts are required under this Act or any other law to be audited, the 31st day of October of the assessment year;";
(b) after Explanation 7 as so renumbered, the following Explanation shall be inserted, namely:—
'Explanation 2.—For the purposes of sub-clause (i) of clause (b) of Explanation I, the expression "working partner" shall have the meaning assigned to it in Explanation 4 of clause (b) of section 40.'.
[Finance (No.
2) Act, 1996]
© Copyright. Taxmann Publications Pvt. Ltd.
Section 42, The Finance Act, 1996 (Act 33 of 1996).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
Questions about Section 42
What does Section 42 of the Finance Act deal with?
Section 42 of the Finance Act is headed "Amendment of section 139". Amendment of section 139. 42. In section 139 of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 1997,— (a) the Explanation shall be renumbered as Explanation 1 and in the Explanation 1 as so renumbered, in clause (b), for sub-clause (i), the following sub-clause shall
How do I find court cases under Section 42 of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 1996 42, section 42 Finance Act 1996, section 42 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 42 of the Finance Act, and has it changed?
Its own text turns on section 40 (Amendment of section 115K), Income-tax Act 139 (Return of income), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 1996 as Act 33 of 1996. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. First Schedule4964 words
- 2. Income-tax1749 words
- 20. Insertion of new sections 54EA and 54EB1112 words
- 39. Insertion of new section 115JA964 words
- 4. Amendment of section 10695 words
- 34. Amendment of section 88644 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. 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. This page is not a substitute for legal advice.