Section 264 — Scheme for submission of returns through tax return preparers
Old Act equivalent: Section 139B of IT Act 1961 Sub-part: A.—Procedure for assessment
Statutory Text
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(1) The Board may make a Scheme for furnishing returns of income through a tax return preparer and such Scheme shall be notified, which—
(a) may enable any specified class or classes of persons in preparing and furnishing returns of income through a tax return preparer authorised to act as such under the Scheme;
(b) may be made irrespective of provisions of section 263. (2) For the purpose of this section,—
(a) “tax return preparer” means any individual, not being a person referred to in section 515(3)(a)(ii) or an employee of the “specified class or class es of persons”, who has been authorised to act as a tax return preparer under the Scheme made under this section;
(b) “specified class or classes of persons” means any person, other than a company or a person, whose accounts are required to be audited under section 63 or under any other law, who is required to furnish a return of income under this Act. (3) Every notification for the Scheme referred to in sub-section (1) shall be issued as per section 534 of this Act.
Return by whom to be verified.
Provisos
None.
Explanations
None.
Key Structure
- Applies to: [Verification Pending]
- Conditions: [Verification Pending]
- Time limits: [Verification Pending]
- Monetary limits: [Verification Pending]
- Exceptions: [Verification Pending]
Cross-References
- Section 63
- Section 263
- Section 515
- Section 534
Amendment Notes
None noted from the extracted pages.