Continuation of income-tax rates maintains existing tax structure and prescribes staggered commencement for specified provisions. Continuation of income-tax rates is proposed to preserve the existing tax framework for the coming financial year, coupled with specified taxpayer reliefs and consequential amendments to enactments. The Bill provides commencement mechanics by fixing the date for early operative provisions at the start of the financial year and permitting the Central Government, by notification in the Official Gazette, to bring later provisions into force on appointed dates.
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Provisions expressly mentioned in the judgment/order text.
Continuation of income-tax rates maintains existing tax structure and prescribes staggered commencement for specified provisions.
Continuation of income-tax rates is proposed to preserve the existing tax framework for the coming financial year, coupled with specified taxpayer reliefs and consequential amendments to enactments. The Bill provides commencement mechanics by fixing the date for early operative provisions at the start of the financial year and permitting the Central Government, by notification in the Official Gazette, to bring later provisions into force on appointed dates.
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