Amended and updated notes on section 115JEE of Income Tax Act 1961 as amended by the Finance Act 2022 and Income-tax Rules, 1962. Detail discussion on provisions and rules related to Application of this Chapter to certain persons.
Chapter XIIBA (Sections 115JC to 115JF) of the Income Tax Act 1961 deals with the provisions related to special provisions relating to certain limited liability partnerships. Section 115JEE of IT Act 1961-2023 provides for Application of this Chapter to certain persons.
Recently, we have discussed in detail section 115JE (Application of other provisions of this Act) of IT Act 1961. Today, we learn the provisions of section 115JEE of Income-tax Act 1961. The amended provision of section 115JEE is effective for financial year 2022-23 relevant to the assessment year 2023-24.
In this article, you will learn detail of the provisions of section 115JE of the Income Tax Act, 1961 Bare Act read with the Income-tax Rules, 1962, regulations, notifications, circulars, orders and Press Release by CBDT, Income Tax Department and the Ministry of Law and Justice, Government of India.
Section-115JEE: Application of this Chapter to certain persons
Section 115JEE(1) of Income Tax Act
The provisions of this Chapter shall apply to a person who has claimed any deduction under—
- (a) any section (other than section 80P) included in Chapter VI-A under the heading “C.—Deductions in respect of certain incomes”; or
- (b) section 10AA; or
- (c) section 35AD.
Section 115JEE(2) of Income Tax Act
The provisions of this Chapter shall not apply to an individual or a Hindu undivided family or an association of persons or a body of individuals, whether incorporated or not, or an artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2, if the adjusted total income of such person does not exceed twenty lakh rupees.
Section 115JEE(2A) of Income Tax Act
The provisions of this Chapter shall not apply to specified fund referred to in clause (c) of the Explanation to clause (4D) of section 10.
[Sub-section (2A) of section 115JEE has been inserted w.e.f. 01.04.2020 by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020]:
Section 115JEE(3) of Income Tax Act
Notwithstanding anything contained in sub-section (1) or sub-section (2), the credit for tax paid under section 115JC shall be allowed in accordance with the provisions of section 115JD.