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of <h1>New Proviso in Section 145: Tax on Untaxed Interest from Securities Now Applicable to Previous Years Starting April 1, 1989.</h1> In section 145 of the Income-tax Act, a new proviso is added to sub-section (1), effective from April 1, 1989. This proviso clarifies that an assessee can be charged income tax on interest from securities received in a previous year, even if that interest was not taxed in any earlier year. This amendment ensures that untaxed interest on securities from prior years can still be subject to income tax.
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