Section 58 - Amendment of section 143 - Finance Act, 2017

Amendment of section 143 58. 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. . (c) in sub-section (3), for the portion beginning with the words, On the day specified in the notice and ending with the words, brackets and letters issued under clause (ii) of , the words On the day specified in the notice issued under shall be substituted and shall be deemed to have been substituted with effect from the 1st day of June, 2016. .