Section 7 - Amendment of section 12AB. - Finance (No. 2) Act, 2024

Amendment of section 12AB. 7. In section 12AB of the Income-tax Act, for sub-section (3), the following sub-section shall be substituted with effect from the 1st day of October, 2024, namely: (3) The order under sub-section (1) shall be passed, in such form and manner as may be prescribed, within a period of, (i) three months calculated from the end of the month in which the application was received in case of clause (a); (ii) six months calculated from the end of the quarter in which the application was received in case of sub-clause (ii) of clause (b); and (iii) one month calculated from the end of the month in which the application was received in case of clause (c). .