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of <h1>Income-tax Act Section 276CC amended to exempt late filers from prosecution if returns filed under Section 139(8A).</h1> Section 276CC of the Income-tax Act is amended to include a provision that exempts individuals from being prosecuted for failing to file income returns on time if they submit a return under sub-section (8A) of section 139 within the specified timeframe. Previously, the exemption applied if the return was filed before the end of the assessment year or if the tax liability did not exceed ten thousand rupees for individuals other than companies. This amendment, effective from April 1, 2022, expands the conditions under which individuals can avoid prosecution for late filing.
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