Amendment to section 115K raises specified monetary limits and substitutes earlier thresholds, effective from the relevant fiscal year. Amendment to section 115K: With effect from 1 April 1997 the Finance (No. 2) Act, 1996 substitutes higher monetary thresholds in section 115K, replacing ... Summary
Amendment to section 115K raises specified monetary limits and substitutes earlier thresholds, effective from the relevant fiscal year.
Amendment to section 115K: With effect from 1 April 1997 the Finance (No. 2) Act, 1996 substitutes higher monetary thresholds in section 115K, replacing the earlier specified threshold wherever it occurs with an increased figure and substituting a higher upper cap at both places where the cap appears, thereby raising the monetary threshold and cap for the applicable fiscal period.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.