Amendment of section 139.

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.... B C D 1. Assessee, including the partners of the firm or the spouse of such partner (if section 5A applies to such spouse). Where the provisions of section 92E apply. 30th November. 2. (i) Company; Where the provisions of section 92E do not apply. 31st October. (ii) Assessee (other than a company) whose accounts are required to be audited under this Act or under any other law for the time being in force; (iii) partner of a firm whose accounts are required to be audited under this Act or under any other law for the time being in force or the spouse of such partner (if section 5A applies to such spouse). 3. (i) Assessee having income from profits and gains of business or profession whose accounts ar....

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....g proviso shall be inserted, namely:-- "Provided also that an updated return may be furnished by a person for the relevant assessment year in pursuance of a notice under section 148 within such period as specified in the said notice and in such a case, the assessee shall be precluded from filing return in pursuance of the said notice in any other manner.". - Clause 5 of the Bill seeks to amend section 139 of the Income-tax Act, 1961 relating to return of income. Explanation 2 to sub-section (1) of said section provides definition for "due date" to mean the last date for filing the return by different classes of assessee or person for the assessment year, with different conditions applied therein. It is proposed....

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.... 31st July.   Sub-section (5) of the said section of the said Act deal with the revised return of income. It allows a person who has already furnished a return under sub-sections (1) and (4) of the said section to file a revised return, if any omission or wrong statement is discovered in the original or belated return. Such revised return must be furnished at any time before three months prior to the end of relevant assessment year or before completion of assessment, whichever is earlier. It is further proposed to substitute said sub-section to provide that 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, subject to the provisio....