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of <h1>Income Tax Act Section 181 Amended: Central Government Can Set Tax-Free Income Rate Up to 25% via Official Gazette.</h1> Section 181 of the Income Tax Act has been amended by the Finance Act, 1965. The amendment involves inserting the phrase 'at such rate not exceeding twenty-five per cent. as may be notified by the Central Government in the Official Gazette from time to time' after the words 'tax free.' This change allows the Central Government to specify a rate, up to a maximum of twenty-five percent, for tax-free income as notified in the Official Gazette periodically.
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