Updated return tax credit rules and additional income-tax rates are revised under the amendment to section 267.

Section 267 is amended to expand the references to tax credits claimed to be set off under sections 206(2)(e) to (h) and 206(3) and (4), including credits not claimed in an earlier return. The amendment also revises the additional income-tax payable on updated returns under section 263(6), setting graduated rates based on the time of filing and adding a further 10% where the return is filed in response to a notice under section 280.

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