TaxTMI 
TaxTMI 
Return of income.
X X X X Extracts X X X X
X X X X Extracts X X X X
....r VIII, as the case may be, exceeded the maximum amount which is not chargeable to income-tax; (iv) a specified entity if its total income without giving effect to the provisions of section 11, exceeds the maximum amount which is not chargeable to income-tax; (v) a University, college or other institution as referred to in section 45(3)(a); (vi) a business trust; (vii) an investment fund as referred to in section 224; (viii) a person who has sustained a loss in the tax year under the head "Profits and gains of business or profession" or under the head "Capital gains" and who intends to claim that such loss, or any part thereof, is to be carried forward as per this Act; (ix) a person who ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... partner (if section 10 applies to such spouse), who is required to furnish a report referred to in section 172. 30th November. 5. Any other assessee. 31st July. (2)(a) The Board may make rules providing for the prescribed form for furnishing return of income, manner of its verification and such other particulars including-- (i) the class or classes of persons who shall be required to furnish the return in electronic form or otherwise; (ii) the form and the manner in which the return may be furnished, whether in electronic form or otherwise; (iii) the documents, statements, receipts, certificates, audited reports or any other documents which may not be furnished along with the return in electronic f....
X X X X Extracts X X X X
X X X X Extracts X X X X
....llowed to him under sub-section (1), may furnish the return for any tax year at any time within nine months from the end of the relevant tax year, or before the completion of the assessment, whichever is earlier. (5) If any person, having furnished a return under sub-section (1) or sub-section (4), discovers any omission or any wrong statement therein, he may furnish a revised return at any time within nine months from the end of the relevant tax year, or before the completion of the assessment, whichever is earlier. (6)(a) Any person, whether or not he has furnished a return under sub-section (1) or (4) or (5) for a tax year, may furnish an updated return of his income or the income of any other person in respect of which he is asses....
X X X X Extracts X X X X
X X X X Extracts X X X X
....section 159 in respect of such person and the same has been communicated to him, prior to the date of furnishing of updated return; (viii) any prosecution proceedings under the Chapter XXII have been initiated for the said tax year in respect of such person, prior to the date of furnishing of updated return; or (ix) thirty-six months have expired from the end of the financial year succeeding the relevant tax year, and any notice to show-cause under section 281has been issued in his case, except where an order has been passed under section 281(3) determining that it is not a fit case to issue notice under section 280; or (x) he is such person or belongs to such class of persons, as notified by the Board in this reg....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ays from the date of such intimation or within a further period as may be allowed on an application made by the assessee in this behalf; (b) if the defect is not rectified within the period allowed under clause (a), then the return shall be treated as an invalid return and the provisions of this Act shall apply as if the assessee had failed to furnish the return; (c) where the assessee rectifies the defect after the expiry of the period allowed under clause (a), but before the assessment is made, the Assessing Officer may condone the delay and treat the return as a valid return. (8)(a) The provisions of this section shall also apply to a return of income which is furnished in pursuance of an order passed under section 2....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Sl. Nos. 28 and 29^[3]); (ix) Core Settlement Guarantee Fund referred to in Schedule III (Table: Sl. No. 30); (x) venture capital company or venture capital fund referred to in Schedule V (Table: Sl. No. 6); (xi) trade union or association referred to in Schedule III (Table: Sl. No. 31); (xii) Board or Authority referred to in Schedule VII (Table: Sl. Nos. 33 and 40^[4]); (xiii) Body or Authority or Board or Trust or Commission (by whatever name called) referred to in Schedule III (Table: Sl. No. 36); (xiv) infrastructure debt fund referred to in Schedule VII(Table: Sl. No. 46); and^[5]; (d) "specified laws" shall refer to the Smugglers and Foreign Exchange Manipulators (Forfei....