Amended and updated notes on section 139C 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 power of Board to dispense with furnishing documents, etc., with return.
Chapter XIV (Sections 139 to 158) of the Income Tax Act 1961 deals with the provisions related to procedure for assessment. Section 139C of IT Act 1961 provides for power of Board to dispense with furnishing documents, etc., with return.
Recently, we have discussed in detail section 139B (Scheme for submission of returns through Tax Return Preparers) of IT Act 1961. Today, we learn the provisions of section 139C of Income-tax Act 1961. The amended provision of section 139C 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 139C of the Income Tax Act, 1961 Bare Act read with the Income-tax Rules, 1962 as provided by Ministry of Law and Justice, Government of India.
Section-139C: Power of Board to dispense with furnishing documents, etc., with return
Section 139C(1) of Income Tax Act
The Board may make rules providing for a class or classes of persons who may not be required to furnish documents, statements, receipts, certificates, reports of audit or any other documents, which are otherwise under any other provisions of this Act, except section 139D, required to be furnished, along with the return but on demand to be produced before the Assessing Officer.
Section 139C(2) of Income Tax Act
Any rule made under the proviso to sub-section (9) of section 139 as it stood immediately before its omission by the Finance Act, 2007 shall be deemed to have been made under the provisions of this section.