Section 12 - Amendment of section 35 - Finance Act, 2015

Amendment of section 35 12. In section 35 of the Income-tax Act, with effect from the 1st day of April, 2016,- (i) in sub-section (2AA), in the proviso, after the words submit its report to the , the words Principal Chief Commissioner or Chief Commissioner or shall be inserted; (ii) in sub-section (2AB),- (a) in clause (3), for the words for audit of accounts maintained for that facility , the words fulfils such conditions with regard to maintenance of accounts and audit thereof and furnishing of reports in such manner as may be prescribed shall be substituted; (b) in clause (4), after the words approval of the said facility to the , the words Principal Chief Commissioner or Chief Commissioner or shall be inserted.