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of <h1>Amendment to Section 234C: Tax Credit Set Off Under Section 115JD Now Included for Advance Tax Interest Calculation.</h1> Clause 84 of the Finance Bill, 2012 proposes an amendment to section 234C of the Income-tax Act, which concerns interest for deferment of advance tax. The amendment involves inserting 'or section 115JD' after 'section 115JAA' in the Explanation to sub-section (1), clause (v). This change allows for the reduction of tax credit set off under section 115JD from the tax due on the returned income. The amendment is effective from April 1, 2013, applicable to the assessment year 2013-2014 and subsequent years.
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