Statutory rate amendment raises prescribed percentage across specified income-tax sections and Second Schedule provisions. Amendment mandates the substitution of the phrase "nine per cent." with "twelve per cent." across specified provisions of the Income-tax Act and in rule ... Summary
Statutory rate amendment raises prescribed percentage across specified income-tax sections and Second Schedule provisions.
Amendment mandates the substitution of the phrase "nine per cent." with "twelve per cent." across specified provisions of the Income-tax Act and in rule 60 of the Second Schedule, altering the prescribed statutory percentage wherever that expression appears in the listed provisions.
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