India - Income Tax Act 2010 - Saarc

1.657 CH. XIV - PROCEDURE FOR ASSESSMENT S. 140Asigned and verified by the liquidator referred to in sub-section (1)of section 178;(b) where the management of the company has been taken over bythe Central Government or any State Government under any law,the return of the company shall be signed and verified by theprincipal officer thereof;](cc) in the case of a firm, by the managing partner thereof, or where forany unavoidable reason such managing partner is not able to sign andverify the return, or where there is no managing partner as such, byany partner thereof, not being a minor;7[(cd) in the case of a limited liability partnership, by the designated partnerthereof, or where for any unavoidable reason such designated partneris not able to sign and verify the return, or where there is no designatedpartner as such, by any partner thereof;](d) in the case of a local authority, by the principal officer thereof;]8[(dd) in the case of a political party referred to in sub-section (4B) of section139, by the chief executive officer of such party (whether such chiefexecutive officer is known as secretary or by any other designation);](e) in the case of any other association, by any member of the associationor the principal officer thereof; and(f) in the case of any other person, by that person or by some personcompetent to act on his behalf.9[Self-assessment 10 .11140A. 12 [(1) Where any tax is payable on the basis of any return required to befurnished under 13 [ 14 [section 115WD or section 115WH or] section 139or section 142 15 [or section 148 or 16 [section 153A or], as the case may be, section158BC]], 17 [after taking into account,—(i) the amount of tax, if any, already paid under any provision of this Act;(ii) any tax deducted or collected at source;7. Inserted by the Finance (No. 2) Act, 2009, w.e.f. 1-4-2010.8. Inserted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.9. Substituted by the Taxation Laws (Amendment) Act, 1970, w.e.f. 1-4-1971. Original sectionwas inserted by the Finance Act, 1964, w.e.f. 1-4-1964.10. See rule 125 for Electronic payment of tax.11. See also Circular No. 20(LXXXVI)-D of 1964 (extracts), dated 7-7-1964. For details, seeTaxmann’s Master Guide to Income-tax Act.12. Substituted by the Taxation Laws (Amendment) Act, 1975, w.e.f. 1-4-1976.13. Substituted for “section 139 or section 148” by the Finance (No. 2) Act, 1991, w.e.f.27-9-1991.14. Inserted by the Finance Act, 2005, w.e.f. 1-4-2006.15. Substituted for “or, as the case may be, section 148” by the Finance Act, 1999, w.e.f.1-6-1999.16. Inserted by the Finance Act, 2003, w.e.f. 1-6-2003.17. Substituted for the words “after taking into account the amount of tax, if any, already paidunder any provision of this Act,” by the Finance Act, 2006, w.e.f. 1-4-2007.