Threshold increase in income tax raises the statutory monetary limit under the specified provision. The amendment substitutes the previous monetary expression in section 255(3) of the Income tax Act with a higher monetary expression, thereby increasing ... Summary
Threshold increase in income tax raises the statutory monetary limit under the specified provision.
The amendment substitutes the previous monetary expression in section 255(3) of the Income tax Act with a higher monetary expression, thereby increasing the statutory monetary threshold specified in that sub section without altering other terms or procedures of the section.
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