India - Income Tax Act 2010 - Saarc

1.649 CH. XIV - PROCEDURE FOR ASSESSMENT S. 13962[Provided that where the return is not accompanied by proof ofthe tax, if any, claimed to have been deducted 63 [or collected] atsource, the return of income shall not be regarded as defectiveif—64[(a) a certificate for tax deducted or collected was not furnishedunder section 203 or section 206C to the person furnishing hisreturn of income;](b) such certificate is produced within a period of two yearsspecified under sub-section (14) of section 155;](ii) the amount of compulsory deposit, if any, claimed to have beenmade under the Compulsory Deposit Scheme (Income-taxPayers) Act, 1974 (38 of 1974);(d) where regular books of account are maintained by the assessee, thereturn is accompanied by copies of—(i) manufacturing account, trading account, profit and loss accountor, as the case may be, income and expenditure account or anyother similar account and balance sheet;(ii) in the case of a proprietary business or profession, the personalaccount of the proprietor; in the case of a firm, association ofpersons or body of individuals, personal accounts of the partnersor members; and in the case of a partner or member of a firm,association of persons or body of individuals, also his personalaccount in the firm, association of persons or body of individuals;(e) where the accounts of the assessee have been audited, the return isaccompanied by copies of the audited profit and loss account andbalance sheet and the auditor’s report 65 [and, where an audit of costaccounts of the assessee has been conducted, under section 233B 66 ofthe Companies Act, 1956 (1 of 1956), also the report under thatsection];(f) where regular books of account are not maintained by the assessee,the return is accompanied by a statement indicating the amounts ofturnover or, as the case may be, gross receipts, gross profit, expensesand net profit of the business or profession and the basis on whichsuch amounts have been computed, and also disclosing the amountsof total sundry debtors, sundry creditors, stock-in-trade and cashbalance as at the end of the previous year.]62. Inserted by the Finance Act, 2002, w.e.f. 1-6-2002.63. Inserted by the Finance Act, 2006, w.e.f. 1-4-2007.64. Substituted, ibid. Prior to its substitution, clause (a) read as under :“(a) a certificate for tax deducted was not furnished under section 203 to the personfurnishing his return of income;”65. Inserted by the Finance Act, 1985, w.e.f. 1-4-1985.66. For text of section 233B of the Companies Act, 1956, see Appendix.