India - Income Tax Act 2010 - Saarc

1.645 CH. XIV - PROCEDURE FOR ASSESSMENT S. 139income for this purpose being computed under this Act without giving effect tothe provisions of section 13A) exceeds the maximum amount which is notchargeable to income-tax, furnish a return of such income of the previous yearin the prescribed form and verified in the prescribed manner and setting forthsuch other particulars as may be prescribed and all the provisions of this Act,shall, so far as may be, apply as if it were a return required to be furnished undersub-section (1).]32[(4C) Every—(a) 32a [scientific research association] referred to in clause (21) ofsection 10;(b) news agency referred to in clause (22B) of section 10;(c) association or institution referred to in clause (23A) of section 10;(d) institution referred to in clause (23B) of section 10;(e) fund or institution referred to in sub-clause (iv) or trust or institutionreferred to in sub-clause (v) or any university or other educationalinstitution referred to in 33 [sub-clause (iiiad) or] sub-clause (vi) or anyhospital or other medical institution referred to in 33 [sub-clause (iiiae)or] sub-clause (via) of clause (23C) of section 10;(f) trade union referred to in sub-clause (a) or association referred to insub-clause (b) of clause (24) of section 10,shall, if the total income in respect of which such 32a [scientific research association],news agency, association or institution, fund or trust or university or othereducational institution or any hospital or other medical institution or trade unionis assessable, without giving effect to the provisions of section 10, exceeds themaximum amount which is not chargeable to income-tax, furnish a return ofsuch income of the previous year in the prescribed form 34 and verified in theprescribed manner and setting forth such other particulars as may be prescribedand all the provisions of this Act shall, so far as may be, apply as if it were a returnrequired to be furnished under sub-section (1).]35[(4D) Every university, college or other institution referred to in clause (ii) andclause (iii) of sub-section (1) of section 35, which is not required to furnish returnof income or loss under any other provision of this section, shall furnish thereturn in respect of its income or loss in every previous year and all the provisionsof this Act shall, so far as may be, apply as if it were a return required to befurnished under sub-section (1).]36[(5) If any person, having furnished a return under sub-section (1), or inpursuance of a notice issued under sub-section (1) of section 142, discovers anyomission or any wrong statement therein, he may furnish a revised return at anytime before the expiry of one year from the end of the relevant assessment yearor before the completion of the assessment, whichever is earlier :32. Inserted by the Finance Act, 2002, w.e.f. 1-4-2003.32a. Words “research association” shall be substituted for the words “scientific researchassociation” by the Finance Act, 2010, w.e.f. 1-4-2011.33. Inserted by the Taxation Laws (Amendment) Act, 2006, w.r.e.f. 1-4-2006.34. See rule 12(1)(e) and Form No. ITR-7.35. Inserted by the Taxation Laws (Amendment) Act, 2006, w.r.e.f. 1-4-2006.36. Substituted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.