Section 62 - Amendment of section 139 - Finance Act, 2003

62. Amendment of section 139.- In section 139 of the Income-tax Act, after sub-section (1A) , the following sub-section shall be inserted, namely :- "(1B) Without prejudice to the provisions of sub-section (1) , any person, being a company or being a person other than a company, required to furnish a return of income under sub-section (1) , may, at his option, on or before the due date, furnish a return of his income for any previous year in accordance with such scheme as may be specified by the Board in this behalf by notification in the Official Gazette and subject to such conditions as may be specified therein, in such form (including on a floppy, diskette, magnetic cartridge tape, CD-ROM or any other computer readable media) and in the manner as may be specified in that scheme, and in such case, the return of income furnished under such scheme shall be deemed to be a return furnished under sub-section (1) , and the provisions of this Act shall apply accordingly.".