India - Income Tax Act 2010 - Saarc

S. 139 I.T. ACT, 1961 1.638in the Official Gazette, direct that no information or document shall be furnishedor produced by a public servant in respect of such matters relating to such classof assessees or except to such authorities as may be specified in the order.]Return of income.97139. 98 [(1) Every person 99 ,—CHAPTER XIVPROCEDURE FOR ASSESSMENT 9696. For the meaning of the term “assessment”, see Taxmann’s Direct Taxes Manual, Vol. 3.97. See also Circular No. 307, dated 23-6-1981, Circular No. 412, dated 2-3-1985, Circular No.639, dated 13-11-1992, Circular No. 792, dated 21-6-2000, Circular No. 795, dated 1-9-2000,Circular No. 10/2001, dated 19-7-2001, Circular No. 10/2003, dated 24-12-2003, CircularNo. 9/2006, dated 10-10-2006, Circular No. 10/2006, dated 16-10-2006, Circular No.12/2006, dated 27-11-2006, Circular No. 5/2007, dated 26-7-2007, Circular No. 5/2008,dated 14-7-2008, Circular No. 6/2008, dated 18-7-2008, Circular No. 8/2008, dated 22-9-2008, Instruction No. 14/2008, dated 1-10-2008 and Circular No. 3/2009, dated 21-5-2009.For details, see Taxmann’s Master Guide to Income-tax Act.For relevant case laws, see Taxmann’s Master Guide to Income-tax Act.98. Substituted by the Finance Act, 2001, w.e.f. 1-4-2001. Prior to its substitution, sub-section(1), as amended by the Finance Act, 1963, w.r.e.f. 1-4-1962, Taxation Laws (Amendment)Act, 1967, w.e.f. 1-10-1967, Taxation Laws (Amendment) Act, 1970, w.e.f. 1-4-1971, FinanceAct, 1972, w.e.f. 1-4-1972, Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989, DirectTax Laws (Second Amendment) Act, 1989, w.e.f. 1-4-1989, Finance Act, 1990, w.e.f.1-4-1991, Finance Act, 1992, w.e.f. 1-4-1993, Finance Act, 1994, w.e.f. 1-4-1994, Finance(No. 2) Act, 1996, w.e.f. 1-4-1997, Finance Act, 1997, w.e.f. 1-4-1997, Finance (No. 2) Act,1998, w.e.f. 1-8-1998 and Finance Act, 1999, w.e.f. 1-6-1999, read as under :‘(1) Every person, if his total income or the total income of any other person in respect ofwhich he is assessable under this Act during the previous year exceeded the maximumamount which is not chargeable to income-tax, shall, on or before the due date, furnisha return of his income or the income of such other person during the previous year in theprescribed form and verified in the prescribed manner and setting forth such otherparticulars as may be prescribed:Provided that a person, not furnishing return under this sub-section and residing in sucharea as may be specified by the Board in this behalf by a notification in the Official Gazette,and who at any time during the previous year fulfils any one of the following conditions,namely :—(i) is in occupation of an immovable property exceeding a specified floor area, whetherby way of ownership, tenancy or otherwise, as may be specified by the Board in thisbehalf; or(ii) is the owner or the lessee of a motor vehicle other than a two-wheeled motor vehicle,whether having any detachable side car having extra wheel attached to such twowheeledmotor vehicle or not; or(iii) is a subscriber to a telephone; or(iv) has incurred expenditure for himself or any other person on travel to any foreigncountry; or(v) is the holder of the credit card, not being an “add-on” card, issued by any bank orinstitution; or(vi) is a member of a club where entrance fee charged is twenty-five thousand rupeesor more,shall furnish a return, of his income during the previous year, on or before the due datein the prescribed form and verified in the prescribed manner and setting forth such otherparticulars as may be prescribed:(Contd. on p. 1.639)