Interest for defaults in payment of advance tax now excludes additional income-tax components for computing taxable base.

The amendment clarifies that "tax on total income as determined under sub-section (1) of section 143" does not include additional income-tax payable under the special additional-tax provision or additional tax arising in assessment proceedings, and that "tax on the total income determined under such regular assessment" similarly excludes additional income-tax imposed under the special additional-tax provision, thereby narrowing the taxable base for computing interest on default in advance tax payments.

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