Tax rate wording clarified: substitution of 'rate or rates in force' replaces prior phrasing altering application of tax rates. The amendment replaces the phrase "rate or rates for the time being" in Section 172(4) of the Income tax Act with the phrase "rate or rates in force", ... Summary
Tax rate wording clarified: substitution of 'rate or rates in force' replaces prior phrasing altering application of tax rates.
The amendment replaces the phrase "rate or rates for the time being" in Section 172(4) of the Income tax Act with the phrase "rate or rates in force", effecting a direct substitution of statutory wording describing applicable tax rates in that subsection.
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