Payee substitution in section 201 replaces 'resident' with 'payee' and extends time limit for credit after correction statement. Amendment replaces the term resident with payee in the provisos to sub-sections (1) and (1A) of section 201, and inserts an alternative benchmark in ... Summary
Payee substitution in section 201 replaces 'resident' with 'payee' and extends time limit for credit after correction statement.
Amendment replaces the term resident with payee in the provisos to sub-sections (1) and (1A) of section 201, and inserts an alternative benchmark in sub-section (3) so that credit is recognized when given or upon expiry of a later period measured from the end of the financial year in which a correction statement is delivered under the proviso to sub-section (3) of section 200, whichever is later.
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