Amendment to Section 115P reduces the prescribed tax rate for specified receipts, operative from the enacted effective date. Legislative amendment substitutes the existing textual rate in section 115P of the Income-tax Act with a lower textual rate, thereby reducing the prescribed percentage applied under that provision; the substitution is effective from the enacted effective date and alters the computation basis for liabilities governed by section 115P.
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Amendment to Section 115P reduces the prescribed tax rate for specified receipts, operative from the enacted effective date.
Legislative amendment substitutes the existing textual rate in section 115P of the Income-tax Act with a lower textual rate, thereby reducing the prescribed percentage applied under that provision; the substitution is effective from the enacted effective date and alters the computation basis for liabilities governed by section 115P.
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