Continuation of existing income-tax rates preserved by statute for the relevant financial year under the Finance Act framework. The Finance Act, 1998 establishes its short title and commencement and statutorily continues the existing rates of income tax for the relevant financial ... Summary
Continuation of existing income-tax rates preserved by statute for the relevant financial year under the Finance Act framework.
The Finance Act, 1998 establishes its short title and commencement and statutorily continues the existing rates of income tax for the relevant financial year, taking effect on the commencement date specified in the enactment as the operative mechanism to maintain the pre-existing tax rate structure.
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