VittSphere ONE Calculators Blog CA Prabhakar Kumar · FCA · ICAI 560762
Calculators Blog Handle my notice
Case law › Notifications › 2020 › Notification No 39 /2020 [F. No. 370142/23/2020-TPL] / SO 2126(E)
Notification 29 June 2020

Notification No 39 /2020 [F. No. 370142/23/2020-TPL] / SO 2126(E)

2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)]

What this is

Notification No 39 /2020 [F. No. 370142/23/2020-TPL] / SO 2126(E) was published on 29 June 2020. Its subject is 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(ii)].

What it does

A corrigendum to Notification No. 35/2020 (S.O. 2033(E)) dated 24 June 2020. At page 3 of that notification, line 30, 'section 54 or 54GB' is to be read as 'sections 54 to 54GB', and at line 35 'sub-clause (i)' is to be read as 'sub-clause (i) of clause (c)'.

Who it reaches

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.
Under the 1961 ActNow
s.3s.3
s.54s.82

The instrument, as the Board published it

The department publishes this one only as a PDF, so the words below were read out of that PDF by machine. That reading can carry its own mistakes — a misread number, a broken line. Check the signed document before you rely on a figure in it.

2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)

CORRIGENDUM

New Delhi, the 29th June, 2020

TAXATION AND OTHER LAWS

S.O. 2126(E).—In the notification of the Government of India, Ministry of Finance, (Department of Revenue) (Central Board of Direct Taxes), number 35/2020, dated the 24th June, 2020, published, vide, number S.O. 2033(E), dated the 24th June, 2020 in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii), at page 3,-

(i) in line 30, for "section 54 or 54GB" read "sections 54 to 54GB";

(ii) in line 35, for "sub-clause (i)" read "sub-clause (i) of clause (c)".

[Notification No 39 /2020/ F. No. 370142/23/2020-TPL]

NEHA SAHAY, Under Secy. (Tax Policy and Legislation Division)

Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.

From when

As part of the notification dated 24 June 2020 that it corrects.

What to watch

Where you meet it

In computing the time available for making the investment or deposit required for exemption under sections 54 to 54GB in the relevant capital gains computation.

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

← Notification No. 42/2020 [F. No.370149/143/2019-TPL] / GSR 423(E)  ·  Notification No. 40/2020 [F. No.370149/143/2019-TPL] / GSR 421(E) →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.