Section 67 - Amendment of section 139. - Finance Act, 2016

Amendment of section 139. 67. In section 139 of the Income-tax Act,- (i) in sub-section (1), in the sixth proviso, for the words, figures and letter provisions of section 10A , the words, brackets, figures and letter provisions of clause (38) of section 10 or section 10A shall be substituted with effect from the 1 st day of April, 2017; (ii) in sub-section (3), after the words, brackets and figures sub-section (2) of section 73 , the words, brackets, figures and letter or sub-section (2) of section 73A shall be inserted; (iii) with effect from the 1st day of April, 2017,- (a) for sub-section (4), the following sub-section shall be substituted, namely:- (4) Any person who has not furnished a return within the time allowed to him under sub-section (1), may furnish the return for any previous year at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier. ; (b) for sub-section (5), the following sub-section shall be substituted, namely:- (5) If any person, having furnished a return under sub-section (1) or sub-section (4), discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier. ; (c) in sub-section (9), in the Explanation, clause (aa) shall be omitted.