Income-tax rate amendment revises the specified percentage under section 195 by substituting 30% for 60%. The rate specified in clause (i) of sub-section (1) of section 195 of the Income-tax Act is amended by substituting 30% for 60% in the long line ... Summary
Income-tax rate amendment revises the specified percentage under section 195 by substituting 30% for 60%.
The rate specified in clause (i) of sub-section (1) of section 195 of the Income-tax Act is amended by substituting 30% for 60% in the long line provision. The change is a targeted statutory amendment that alters the percentage figure applicable under the specified clause, without introducing any other modification to the section.
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