Amendment in the Income Tax Act, 1961

Central Board of Direct Taxes amends the Notification of Government of India, Ministry of Finance No. 60/2014, published in the Gazette dated 03rd November, 2014

The Central Board of Direct Tax (CBDT) in exercise of powers conferred by section 118 of the Income-tax Act, 1961 (43 of 1961) has published a Notification S.O. 3148(E) dated 08th July 2022 (effective date), thereby, amending the Notification of the Government of India, Ministry of Finance No. 60/2014, published in the Gazette of India, Extraordinary, under Part II, section 3, sub-section (ii), vide number S.O. 2817(E) dated the 3rd November, 2014. The The key highlights of the amendment are as follows:

(i) In clauses (a) and (b), for the word “Table”, the word “Schedule” shall respectively be substituted.

(ii) For clause (c), the following clause shall be substituted, namely:-
“(c) the Commissioner of Income-tax as specified in column (4) of the Schedule below shall be subordinate to the Chief Commissioner of Income-tax specified in column (3) of the said Schedule.”

(iii) Under the Schedule, in Serial Number 1, under column number (3), the following shall be inserted, namely:- “Chief Commissioner of Income-tax (International Taxation), Delhi”.

IMPACT OF THE AMENDMENT:
The amendment intends to clarify the positions of officers, and has thereby, removed the term used, “Principal Chief Commissioner” from the said notification. Furthermore, the amendment also clarifies that the use of “Chief Commissioner of Income tax” is only limited to international taxation, situated at Delhi.