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of <h1>Income-tax Act Section 140A Amended: Fees Prioritized Over Interest in Payment Allocation Effective April 1, 2018.</h1> Section 140A of the Income-tax Act is amended effective April 1, 2018, by the Finance Act, 2017. In sub-section (1), the amendment adds the term 'fee' alongside 'interest' and adjusts the payment allocation to prioritize fees before interest. In sub-section (3), the phrase 'or interest or both' is replaced with ', interest or fee' to include fees in the context of tax payments. These changes ensure that fees are explicitly accounted for in the payment and adjustment process under section 140A.
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