Increase in prescribed fixed charge under Interest-tax Act raises the statutory specified amount affecting assessment and collection rules. The Finance Act, 1981 amends the Interest-tax Act by substituting the specified amount in section 16(6 with effect from the 1st day of June, 1981), so ... Summary
Increase in prescribed fixed charge under Interest-tax Act raises the statutory specified amount affecting assessment and collection rules.
The Finance Act, 1981 amends the Interest-tax Act by substituting the specified amount in section 16(6 with effect from the 1st day of June, 1981), so that the new prescribed sum governs assessments, computation and collection under that subsection from that effective date.
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