Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Deduction for interest on tax free government securities allowed reduction in income tax by computed tax on included interest. Section 86A has been omitted. It formerly allowed a deduction from the income tax chargeable where interest on specified tax free government securities was included in total income, by computing tax on that included amount at an average rate or at a prescribed lower rate, whichever was less.
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Provisions expressly mentioned in the judgment/order text.
Deduction for interest on tax free government securities allowed reduction in income tax by computed tax on included interest.
Section 86A has been omitted. It formerly allowed a deduction from the income tax chargeable where interest on specified tax free government securities was included in total income, by computing tax on that included amount at an average rate or at a prescribed lower rate, whichever was less.
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