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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amendment to Section 139: New Due Date for Audited Accounts and Defined 'Working Partner' Effective April 1, 1997.</h1> Section 139 of the Income-tax Act is amended effective April 1, 1997. The existing Explanation is renumbered as Explanation 1, and within clause (b), sub-clause (i) is replaced. The new sub-clause specifies that for assessees whose accounts require auditing, or where specific reports or certificates are mandated under sections 80HHC, 80HHD, 80R, 80RR, or 80RRA, or for co-operative societies and working partners of firms, the due date is October 31 of the assessment year. Additionally, Explanation 2 is introduced to define 'working partner' as per Explanation 4 of clause (b) of section 40.
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