Threshold increase in section 13(3)(b) income tax raises the applicable limit for the specified exemption under the Act. Amendment raises the exemption threshold in sub section (3), clause (b) of the Income tax Act by substituting the earlier monetary threshold with a higher ... Summary
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Threshold increase in section 13(3)(b) income tax raises the applicable limit for the specified exemption under the Act.
Amendment raises the exemption threshold in sub section (3), clause (b) of the Income tax Act by substituting the earlier monetary threshold with a higher monetary threshold, in effect changing the quantitative eligibility criterion governed by that clause from the specified commencement date.
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