MEMORANDUM REGARDING DELEGATED LEGISLATION

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....e Income-tax Act relating to incomes not included in total income. It is proposed to amend clause (5) of the said section to insert a second proviso to empower the Board to make rules to provide for the conditions (including the condition of incurring the amount of the expenditure within the period specified therein) to claim the exemption for the value in lieu of travel concession or assistance received for the assessment year beginning on the 1st day April, 2021. It is further proposed to amend clause (11) of the said section to empower the Central Government to notify in the Official Gazette with respect to any other Provident Fund to claim exemption under the said clause. It is also proposed to amend clause (12) of the said section t....

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....f assets and depreciation has been obtained by the assesse under the Act for the purposes of the said section. Clause 28 of the Bill seeks to insert a new section 89A in the Income-tax Act relating to relief from taxation in income from retirement benefit account maintained in a notified country. The proposed new section empowers the Board to make rules to provide for the manner and year, for imposing tax on income received from a specified account by a specified person. Clause 31 of the Bill seeks to amend section 115JB of the Income-tax Act relating to special provision for payment of tax by certain company. It is proposed to insert sub-section (2D) therein so as to empower the Board to make rules to provide for the manner of recomput....

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....ime within which and the form and manner in which every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person shall furnish an annual return. Clause 106 of the Bill seeks to amend section 83 of the Central Goods and Services Tax Act by substituting sub-section (1) thereof, which empowers the Central Government to provide by rules the manner in which the Commissioner may attach provisionally any property, including bank account, belonging to the taxable person or any person specified in sub-section (1A) of section 122. Clause 108 of the Bill seeks to amend section 129 of the Central Goods and Services Tax Act. Sub-section (6)....