Deduction rate amendment reduces prescribed proportional deductions by substituting previously higher rates with lower prescribed rates under tax law. Amendment of Section 37(2) substitutes the figures and notations "3/4%" with "1/2%" and "1/2%" with "1/4%", thereby reducing the statutory proportional ... Summary
Deduction rate amendment reduces prescribed proportional deductions by substituting previously higher rates with lower prescribed rates under tax law.
Amendment of Section 37(2) substitutes the figures and notations "3/4%" with "1/2%" and "1/2%" with "1/4%", thereby reducing the statutory proportional deduction rates used in computing the specified deduction under that subsection.
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