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of <h1>Central Government Establishes Interim Settlement Boards u/s 245AA of Income-tax Act, 1961 in Key Indian Cities.</h1> The Central Government, under the authority of section 245AA of the Income-tax Act, 1961, has established Interim Boards for Settlement. These boards are designated to operate in various locations as specified: Interim Board for Settlement-I, II, and III are based in Delhi; Board-IV in Kolkata; Board-V and VI in Mumbai; and Board-VII in Chennai. This establishment aims to facilitate the settlement process within the specified jurisdictions. The notification was issued by the Ministry of Finance, Department of Revenue, under the Central Board of Direct Taxes, effective from August 10, 2021.
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