Amendment of section 12AB
In section 12AB of the Income-tax Act, for sub-section (3), the following sub-section shall be substituted with effect from the 1st day of October, 2024, namely:—
“(3) The order under sub-section (1) shall be passed, in such form and manner as may be prescribed, within a period of,—
| (i) | three months calculated from the end of the month in which the application was received in case of clause (a); | |
| (ii) | six months calculated from the end of the quarter in which the application was received in case of sub-clause (ii) of clause (b); and | |
| (iii) | one month calculated from the end of the month in which the application was received in case of clause (c).”. |