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of <h1>Finance Bill 2011: Amendments to Income-tax Act Section 131 Enhance Powers for Tax Inquiries and Document Retention.</h1> Clause 21 of the Finance Bill, 2011 proposes amendments to section 131 of the Income-tax Act, effective from June 1, 2011. The amendment introduces a new sub-section (2), empowering income-tax authorities, at least at the rank of Assistant Commissioner, to conduct inquiries or investigations related to agreements under sections 90 or 90A, even if no proceedings are pending. Additionally, sub-section (3) is amended to allow these authorities to impound and retain documents produced during proceedings. These changes enhance the powers of income-tax authorities in relation to discovery and evidence production.
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