Tax rate adjustment alters the prescribed rate in the First Schedule by substituting the previous rate for a higher one. Amendment to the First Schedule of the Income-tax Act substitutes, in rule 3 clause (c), the words previously used to express the applicable rate with a ... Summary
Tax rate adjustment alters the prescribed rate in the First Schedule by substituting the previous rate for a higher one.
Amendment to the First Schedule of the Income-tax Act substitutes, in rule 3 clause (c), the words previously used to express the applicable rate with a new, higher rate word, effecting a textual change to the Schedule's prescribed rate.
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