Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
Don't have an account? Register Here
<h1>Income-tax Act Section 278 Amended: Monetary Threshold Raised, Penalty Period Reduced by Finance Act 2012 Effective July 1</h1> Section 278 of the Income-tax Act was amended by the Finance Act, 2012, effective July 1, 2012. The amendment increased the monetary threshold in clause (i) from 'one hundred thousand rupees' to 'twenty-five hundred thousand rupees.' Additionally, clause (ii) was revised to reduce the period from 'three years' to 'two years.'