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of <h1>Finance Bill 2018 amends Income-tax Act Section 143, enhancing assessment efficiency and transparency from April 2018.</h1> Clause 44 of the Finance Bill, 2018 amends section 143 of the Income-tax Act. It introduces a proviso to sub-section (1), clause (a), preventing adjustments under sub-clause (vi) for returns from the assessment year starting April 1, 2018. Additionally, new sub-sections (3A), (3B), and (3C) are added, allowing the Central Government to create a scheme for assessing total income or loss, aiming to enhance efficiency, transparency, and accountability. This includes reducing direct interaction between the Assessing Officer and the assessee and optimizing resource use. Notifications under these provisions must be laid before Parliament.
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