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<h1>Amendment to Income-tax Act: Section 245T updated; 'Authority' replaced with 'Board for Advance Rulings' from April 2021.</h1> Clause 74 of the Finance Bill, 2021, amends section 245T of the Income-tax Act. It removes the words 'by it' in sub-section (1) and introduces a new sub-section (3). This new sub-section allows the Central Government to specify a date from which the term 'Authority' in the section will be replaced with 'Board for Advance Rulings.' These changes are effective from April 1, 2021, and relate to circumstances under which an advanced ruling may be deemed void.