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of <h1>Amendment to Section 114: National Savings Certificates Interest Now Included for Tax Calculations Under Finance Act 1965.</h1> Section 114 of the Income-tax Act has been amended by the Finance (No. 2) Act, 1965, to include interest on National Savings Certificates (First Issue) in its provisions. Clause (a) now references this interest alongside clause (ii) of section 28. In clause (b), sub-clause (i) adds interest on these certificates to the compensation or other payment amounts. Clause (c) has been replaced to specify that tax on compensation, other payments, and interest on National Savings Certificates is computed according to clauses (iii) of section 112 and (b) of section 112A.
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