CBDT Notification No. 39/2024 Dated 22 April 2024
In a recent development, the Central Board of Direct Taxes (CBDT), introduces pivotal changes to the Income-tax Act, 1961 vide its Notification No. 39/2024 Dated 22nd April, 2024. This notification reshapes the administrative landscape of income tax in India.
NOTIFICATION:
S.O. 1760(E).—In exercise of the powers conferred by section 118 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes number S.O.2692 (E), dated the 10th June, 2022, read with corrigendum notification number S.O.3044(E) dated the 4th July,2022 published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii), namely:-
In the said notification,
(i) in clause (a), for the words “Schedule below (hereinafter referred to as the said Schedule)”, the words “First Schedule” shall be substituted;
(ii) in clause (b), for the words “said Schedule” at both the places where they occur, the words “First Schedule” shall respectively be substituted;
(iii) in clause (c),-
(A) for the words “said Schedule” at both the places where they occur, the words “First Schedule” shall respectively be substituted;
(B) the word “and” shall be omitted;
(iv) in clause (d), for the words “said Schedule”, the words “First Schedule” shall be substituted;
(v) after clause (d), the following clauses shall be inserted, namely:-
“(e) Principal Commissioners of Income-tax as specified in column (3) of the Second Schedule shall be subordinate to the Principal Chief Commissioners of Income-tax as specified in column (2) of the said Schedule; and
(f) Income-tax Authorities of Units as specified in column (4) of the Second Schedule shall be subordinate to the Principal Commissioners of Income-tax as specified in column (3) of the said Schedule.”;
(vi) after clause (e) and (f) as so inserted, for the heading “SCHEDULE”, the heading “FIRST SCHEDULE” shall be substituted;
(vii) in the First Schedule,-
(A) for serial number 3 and the entries relating thereto, the following serial number and entries shall be substituted, namely:-
Click Here for rest part of the CBDT Notification.
Click Here to Access the related CBDT Notification S.O.2692 (E), dated the 10th June, 2022
Click Here to Access the related CBDT Notification S.O.3044(E) dated the 4th July,2022
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