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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Income-tax Act Amended: Clause in Rule 6 Adjusted, Affecting Employee Salary Tax Calculations from April 1981.</h1> The Finance (No. 2) Act, 1980, amends the Fourth Schedule of the Income-tax Act. Specifically, in Part A, clause (b) of rule 6, the phrase 'exceeds one-third of the salary of the employee or' is removed. This amendment takes effect starting April 1, 1981, impacting the calculation of certain tax-related matters concerning employee salaries.
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