Amendment of section 139.

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..... mely:- (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) shal .....

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..... one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier. Sub-section (5) of the said section provides that if any person, having furnished a return under sub-section (1), or in pursuance of a notice issued under sub-section (1) of section 142 discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the completion of the assessment, whichever is earlier. Clause (aa) of Explanation to sub-section (9) of the said section provides that a return of income shall be regarded as defective unless the self-assessment tax together with interest, if any, payable in accordance with the provisions of section 140A, has been paid on or before the .....

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..... not been paid on or before the date of furnishing of the return. These amendments will take effect from 1st day of April, 2017 and will, accordingly, apply in relation to the assessment year 2017- 2018 and subsequent years. Sub-clause (ii) of the said clause seeks to amend sub-section (3) of the said section. Sub-section (3) of the said section provides that if any person who has sustained a loss in any previous year under the head profits and gains of business or profession or under the head capital gains and claims that the loss or any part thereof should be carried forward under sub-section (1) of section 72, or sub-section (2) of section 73, or sub-section (1) or sub-section (3) of section 74 or sub-section (3) of section 74A, he may f .....

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