Minimum Alternate Tax rate increased under section 115JB, altering commencement and rate specification for the fiscal year. Amendment revises the commencement date and raises the Minimum Alternate Tax rate in section 115JB by textual substitution: the prior statutory commencement is replaced by a later first day of the financial year, and the earlier percentage expressions in subsection (1) are substituted with the newly prescribed rate in both occurrences.
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Minimum Alternate Tax rate increased under section 115JB, altering commencement and rate specification for the fiscal year.
Amendment revises the commencement date and raises the Minimum Alternate Tax rate in section 115JB by textual substitution: the prior statutory commencement is replaced by a later first day of the financial year, and the earlier percentage expressions in subsection (1) are substituted with the newly prescribed rate in both occurrences.
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