Deduction rate adjusted, altering calculation and eligibility for specified business deductions from next fiscal year. The amendment substitutes the percentage in section 36(1), clause (iva), replacing the prior rate with fourteen per cent, thereby changing the computation ... Summary
Deduction rate adjusted, altering calculation and eligibility for specified business deductions from next fiscal year.
The amendment substitutes the percentage in section 36(1), clause (iva), replacing the prior rate with fourteen per cent, thereby changing the computation of the specified deduction; this substitution takes effect from the commencement of the financial year beginning on the first day of April, 2025.
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