Compfie | Bill of the Taxation Laws (Amendment) Act, 2021 (dated – 06.08.2021)

View Pdf

Bill of the Taxation Laws (Amendment) Act, 2021 (dated – 06.08.2021) – LokSabha

New bill has further to amend the Income-tax Act, 1961 and the Finance Act, 2012.
In the Income-tax Act, 1961, Section 9, in Sub-Section (1), in Clause (i), in explanation 5, after the third proviso, the following provisos shall be inserted namely “An assessment or reassessment to be made under section 143, Section 144, Section 147 or Section 153A or Section 153C”
An order to be passed enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under Section 154; or
An order to be passed deeming a person to be an assessee in default under sub-section (1) of section 201. ETC.,