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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Income Tax Calculation Amended: Section 16 Clause (i) Rate Increased from 20% to 25% Effective April 1, 1983.</h1> In the Finance Act, 1982, an amendment to section 16 of the Income-tax Act is made. Specifically, in clause (i) of section 16, the percentage mentioned is changed from 'twenty per cent.' to 'twenty-five per cent.' This amendment takes effect from April 1, 1983, impacting the calculation of income tax as per the specified section.
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