Amendment clarifying that tax relief from salary-arrear provisions reduces interest liability on advance tax shortfalls. The amendment inserts clause (ia) in the Explanation to subsection (1) to treat tax relief allowed under section 89 as a relief to be considered when ... Summary
Amendment clarifying that tax relief from salary-arrear provisions reduces interest liability on advance tax shortfalls.
The amendment inserts clause (ia) in the Explanation to subsection (1) to treat tax relief allowed under section 89 as a relief to be considered when computing liability for interest on shortfall or deferment of advance tax, clarifying that such relief affects the chargeability of interest under the provision.
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