Income-tax Act,1961
Act No : 43
Section :
Return by whom to be signed
140. Return by whom to be signed The return under section 139 shall be signed and verified- 1[(a) in the case of an individual,- (i) by the individual himself; (ii) where he is absent from India, by the individual himself or by some person duly authorised by him in this behalf; (iii) where he is mentally incapacitated from attending to his affairs, by his guardian or any other person competent to act on his behalf; and (iv) where, for any other reason, it is not possible, for the individual to sign the return, by any person duly authorised by him in this behalf: Provided that in a case referred to in sub-clause (ii) or subclause (iv), the person signing the return holds a valid power of attorney from the individual -to do so, which shall be attached to the return;] ---------------------------------------------------------------------- 1 Substituted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989. Prior to the substitution, clause (a) read as under: "(a) in the case of an individual, by the individual himself; where the individual is absent from India, by the individual concerned or by some person duly authorised by him in this behalf; and where the individual is mentally incapacitated from attending to his affairs, by his guardian or by any other person competent to act on his behalf." ------------------------------------------------------------------------ 1.529 (b) in the case of a Hindu undivided family, by the karta, and, where the karta is absent from India or is mentally incapacitated from attending to his affairs, by any other adult member of such family; 1[(c) in the case of a company, by the managing director thereof, or where for any unavoidable reason such managing director is not able to sign and verify the return, or where there is no managing director, by any director thereof: 2[Provided that where the company is not resident in India, the return may be signed and verified by a person who holds a valid power of attorney from such company to do so, which shall be attached to the return: Provided further that,- (a) where the company is being wound-up, whether under the orders of a court or otherwise, or where any person has been appointed as the receiver of any assets of the company, the return shall be signed 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 by the Central Government or any State Government under any law, the return of the company shall be signed and verified by the principal officer thereof;] (cc) in the case of a firm, by the managing partner thereof, or where for any unavoidable reason such managing partner is not able to sign and verify the return, or where there is no managing partner as such, by any partner thereof, not being a minor; (d) in the case of a local authority, by the principal officer thereof;] 3[(dd) in the case of a political party referred to in sub-section (4B) of section 139, by the chief executive officer of such party (whether such chief executive officer is known as secretary or by any other designation);] (e) in the case of any other association, by any member of the association or the principal officer thereof; and (f) in the case of any other person, by that person or by some person competent to act on his behalf. 4[140A. Self-assessment5 6[(1) Where any tax is payable on the basis of any return required to ----------------------------------------------------------------------- 1 Substituted for clauses (c) and (d) by the Taxation Laws (Amendment) Act, 1975, w.e.f. 1-4-1976. 2 Inserted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989. 3 Inserted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989. 4 Substituted by the Taxation Laws (Amendment) Act, 1970, w.e.f. 1- 4-1971. Earlier, it was inserted by the Finance Act, 1964, w.e.f. 1- 4-1964. 6 Substituted by the Taxation Laws (Amendment) Act, 1975, w.e.f. 1-4-1976. ------------------------------------------------------------------------ 1.530 be furnished under 1[section 139 or section 142 or, as the case may be, section 148], after taking into account the amount of tax, if any, already paid under any provision of this Act, 2[the assessee shall be liable to pay such tax together with interest payable under any provision of this Act for any delay in furnishing the return or any default or delay in payment of advance tax, before furnishing the return and the return shall be accompanied by proof of payment of such tax and interest.] 3[Explanation.-Where the amount paid by the assessee under this subsection falls short of the aggregate of the tax and interest as aforesaid, the amount so paid shall first be adjusted towards the interest payable as aforesaid and the balance, if any, shall be adjusted towards the tax payable.] (2) After a regular assessment under section 143 or section 144 has been made, any amount paid under sub-section (1) shall be deemed to have been paid towards such regular assessment. 4 [(3) If any assessee fails to pay the whole or any part of such tax or interest or both in accordance with the provisions of sub- section (1), he shall, without prejudice to any other consequences which he may incur, be deemed to be an assessee in default in respect of the tax or interest or both remaining unpaid, and all the provisions of this Act shall apply accordingly.] 5[(4) The provisions of this section as they stood immediately before their amendment by the Direct Tax Laws (Amendment) Act, 1987 (4 of 1988), shall apply to and in relation to any assessment for the assessment year commencing on the 1st day of April, 1988, or any earlier assessment year and references in this section to the other provisions of this Act shall be construed as references to those provisions as for the time being in force and applicable to the relevant ass
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