Title : Amendment of Section 115wb
State : Central
Year : 2006
In section 115WB of the Income-tax Act, with effect from the 1st day of April, 2007,-- (a) in sub-section (2),-- (i) in clause (D), in the proviso,-- (A) in clause (v), the word "and" occurring at the end shall be omitted; (B) after clause (vi), the following clauses shall be inserted, namely:-- "(vii) being the expenditure on distribution of free samples of medicines or of medical equipment, to doctors; and (viii) being the expenditure by way of payment to any person of repute for promoting the sale of goods or services of the business of the employer,"; (ii) in clause (F), the words and brackets "tour and travel (including foreign travel)" shall be omitted; (iii) after clause (P), the following clause shall be inserted, namely:-- "(Q) tour and travel (including..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 120
State : Central
Year : 2006
In section 120 of the Income-tax Act, in sub-section (1), the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1988, namely:-- "Explanation.--For the removal of doubts, it is hereby declared that any income-tax authority, being an authority higher in rank, may, if so directed by the Board, exercise the powers and perform the functions of the income-tax authority lower in rank and any such direction issued by the Board shall be deemed to be a direction issued under sub-section (1).". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 153b
State : Central
Year : 2006
In section 153B of the Income-tax Act, in sub-section (1), after the proviso, the following proviso shall be inserted with effect from the 1st day of June, 2006, namely:-- 'Provided further that in the case where the last of the authorisations for search under section 132 or for requisition under section 132A was executed during the financial year commencing on the 1st day of April, 2004 or any subsequent financial year,-- (i) the provisions of clause (a) or clause (b) of this sub-section shall have effect as if for the words "two years" the words "twenty-one months" had been substituted; (ii) the period of limitation for making the assessment or re-assessment in case of other person referred to in section 153C, shall be the period of twenty-one months from the end of the..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 194a
State : Central
Year : 2006
In section 194A of the Income-tax Act, in sub-section (3), Explanation 2 shall be omitted. View Complete Act List Judgments citing this sectionTitle : Amendment of Section 203a
State : Central
Year : 2006
In section 203A of the Income-tax Act, in sub-section (2), after clause (b), the following clause shall be inserted with effect from the 1st day of June, 2006, namely:-- "(ba) in all the quarterly statements prepared and delivered or caused to be delivered in accordance with the provisions of sub-section (3) of section 200 or sub-section (3) of section 206C;". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 206
State : Central
Year : 2006
In section 206 of the Income-tax Act, in sub-section (1), for the words "responsible for deducting tax", the words, figures and letters "responsible for deducting tax before the 1st day of April, 2005" shall be substituted. View Complete Act List Judgments citing this sectionTitle : Insertion of New Section 271ca
State : Central
Year : 2006
After section 271C of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2007, namely:-- "271CA. Penalty for failure to collect tax at source.--(1) If any person fails to collect the whole or any part of the tax as required by or under the provisions of Chapter XVII-BB, then, such person shall be liable to pay, by way of penalty, a sum equal to the amount of tax which such person failed to collect as aforesaid. (2) Any penalty imposable under sub-section (1) shall be imposed by the Joint Commissioner.". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 272a
State : Central
Year : 2006
In section 272A of the Income-tax Act, in sub-section (2), in the proviso, after the words, figures and letter "returns under sections 206 and 206C", the words, brackets, figures and letter "and statements under sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C" shall be inserted with effect from the 1st day of June, 2006. View Complete Act List Judgments citing this sectionTitle : Amendment of Section 272bb
State : Central
Year : 2006
In section 272BB of the Income-tax Act, with effect from the 1st day of June, 2006,-- (i) after sub-section (1), the following sub-section shall be inserted, namely:-- '(1A) If a person who is required to quote his "tax deduction account number" or, as the case may be, "tax collection account number" or "tax deduction and collection account number" in the challans or certificates or statements or other documents referred to in sub-section (2) of section 203A, quotes a number which is false, and which he either knows or believes to be false or does not believe to be true, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of ten thousand rupees.'; (ii) in sub-section (2), after the word, brackets and figure "sub-section (1)", the words, brackets,..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 273b
State : Central
Year : 2006
In section 273B of the Income-tax Act,-- (a) for the word, figures and letter "section 271C", the words, figures and letters "section 271C, section 271CA" shall be substituted with effect from the 1st day of April, 2007; (b) for the words, brackets, figures and letters "sub-section (1) of section 272BB", the words, brackets, figures and letters "sub-section (1) or sub-section (1A) of section 272BB" shall be substituted with effect from the 1st day of June, 2006. View Complete Act List Judgments citing this section