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of <h1>Finance Act 1968 Amends Section 199: Provisional Assessments Introduced, Tax Credit Allocation Updated for Jointly Owned Shares</h1> Section 199 of the Income-tax Act has been amended by the Finance Act, 1968. The amendments include the insertion of provisions for provisional assessments under section 141A. The existing provisos have been replaced to specify that if a person's income is included under sections 60, 61, 64, 93, or 94 in another person's total income, payments and credits are attributed to the latter. Additionally, if dividends are assessable as income of someone other than the shareholder, credits are given to that person as prescribed. For jointly owned securities or shares, credits are allocated proportionally based on assessable income.
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