MEMORANDUM REGARDING DELEGATED LEGISLATION

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.... Clause 15 of the Bill seeks to amend section 270AA of the Income-tax Act, 1961 relating to immunity from imposition of penalty, etc. Sub-section (2) of the said section empowers the Board to provide by rules the form for application to grant immunity and the manner of verification of such application.     Clause 69 of the Bill seeks to amend section 352 of the Income-tax Act,....

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....he conditions for filing application to the prescribed income-tax authority.     Clause 85 of the Bill seeks to amend section 440 of the Income-tax Act, 2025 relating to immunity from imposition of penalty, etc. Sub-section (2) of the said section empowers the Board to provide by rules the form and the manner of verification of application for grant of waiver of penalty and immu....

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....vide by rules for the conditions for holding of number of units.     Clauses 114 to 128 of the Bill seeks to insert a new Chapter relating to the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026. Clause 128 empowers the Board to make rules for carrying out the provisions of the said Scheme.     Indirect taxes     Clause 133 of the B....