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of <h1>Finance Bill 2022 amends Section 234B of Income-tax Act to exclude certain additional taxes from interest calculations.</h1> Clause 65 of the Finance Bill, 2022, amends section 234B of the Income-tax Act, which addresses interest for defaults in advance tax payments. The amendment revises Explanation 3 in sub-section (1) to clarify that 'tax on total income' determined under section 143(1) and regular assessment does not include additional income-tax payable under sections 140B or 143. This change is effective from April 1, 2022, ensuring that the calculation of interest for tax defaults excludes certain additional income-tax amounts.
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