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of <h1>CBDT Amends Notification, Empowers Chief Commissioners Under Section 120 of Income-tax Act for PAN Applications Effective July 2003.</h1> The Central Board of Direct Taxes, using powers under Section 120 of the Income-tax Act, 1961, has amended Notification No. S.O. 733(E) dated July 31, 2001. Effective from July 1, 2003, Chief Commissioners of Income-tax listed in Schedule II are authorized to exercise powers and perform functions under the Income-tax Act for individuals applying for a permanent account number from that date. Amendments include substituting specific wording in the first, second, third, and fourth provisos to ensure these authorities exercise jurisdiction over such individuals as specified in Schedule II.
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