CBDT Circular on ‘Explanatory Notes to the Amendments made under the Provisions of Finance Act, 2016’
The CBDT has issued “Explanatory Notes to the Provisions of Finance Act, 2016 (i.e. substance of the amendments at a glance)” vide Circular No. 3/2017 dt. 20 Jan. 2017, as under:
The Finance Act, 2016 has already received the ascent of the President on 14 May, 2016 and has been enacted as Act No. 28 of 2016.
This Circular of CBDT explains the substance of the provisions/ amendments made by the Finance Act, 2016 relating to Direct Taxes/ Income Tax.