Exemption threshold increase for income tax clause alters applicability and limits, effective from the stated fiscal year. An amendment increases the monetary threshold in the proviso to clause (15) of section 2 of the Income-tax Act by substituting the prior monetary benchmark with a new higher benchmark, effective from the stated fiscal year, thereby altering the proviso's applicability and the scope of taxpayers or transactions covered.
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Provisions expressly mentioned in the judgment/order text.
Exemption threshold increase for income tax clause alters applicability and limits, effective from the stated fiscal year.
An amendment increases the monetary threshold in the proviso to clause (15) of section 2 of the Income-tax Act by substituting the prior monetary benchmark with a new higher benchmark, effective from the stated fiscal year, thereby altering the proviso's applicability and the scope of taxpayers or transactions covered.
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