Under the existing provisions of section 143(1 B) of the Income-tax Act, the Central Government may, for the purpose of giving effect to the scheme made under section 143(1A), by notification in the Official Gazette, direct that any of the provisions of the Income-tax Act relating to processing of returns shall not apply or shall apply with such exceptions, modifications and adaptations as may be specified in that notification. However, no direction shall be issued after 31st March, 2011.
It is proposed to amend section 143(1B) to extend the existing time limit for issue of notification to 31st March, 2012.
This amendment will take effect retrospectively from 1st April, 2011.
