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of <h1>Amendment to Section 280ZB revises company income-tax calculations, incorporating reliefs, deductions, and dividend distribution adjustments.</h1> Section 280ZB of the Income-tax Act has been amended to revise the calculation of income-tax payable by a company. The amendment specifies that the tax amount should account for any relief, rebate, or deduction the company is entitled to under the Income-tax Act or the annual Finance Act. It also requires deducting additional income-tax payable under section 104 and adjustments related to rebates on bonus shares or dividends issued. For assessment years starting April 1, 1965, and subsequent years, the amendment addresses tax payable concerning dividend distributions as per the Finance Act.
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