Clause 57 - Amendment of section 143. - Finance Bill, 2017

Amendment of section 143. 57. In section 143 of the Income-tax Act,- (a) in sub-section (1), with effect from the 1st day of April, 2018,- (i) in clause (b), for the words and interest , the words , interest and fee shall be substituted; (ii) in clause (c),- (A) for the words and interest , the words , interest and fee shall be substituted; (B) for the words or interest , the words , interest or fee shall be substituted; (iii) in the first proviso, for the words or interest , the words , interest or fee shall be substituted; (b) for sub-section (1D) [as substituted by section 68 of the Finance Act, 2016 (28 of 2016)], the following shall be substituted, namely:- (1D) Notwithstanding anything contained in sub-section (1), the processing of a return shall not be necessary, where a notice has been issued to the assessee under sub-section (2): Provided that the provisions of this sub-section shall not apply to any return furnished for the assessment year commencing on or after the 1st day of April, 2017. .