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of <h1>Finance Bill 2017: Amendments to Section 143 of Income-tax Act on Assessment Process and Late Filing Fees</h1> Clause 57 of the Finance Bill, 2017 proposes amendments to section 143 of the Income-tax Act concerning the assessment process. Effective April 1, 2018, these changes include the addition of 'fee' alongside 'interest' in sub-section (1) clauses, aligning with the new section 234F which imposes a fee for delayed income return filings. Additionally, sub-section (1D) is revised to state that processing a return is unnecessary if a notice under sub-section (2) is issued, except for returns from the assessment year starting April 1, 2017. These amendments apply from April 1, 2017, and April 1, 2018, respectively.
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