Clause 23 - Amendment of section 139. - Finance Bill, 2011

23. 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.