Income-tax: rate on income under specified provisions cut from 60% to 30%, effective 1 April 2026. The amendment substitutes the rate in section 195, reducing the figure from 60% to 30% for income referred to in the designated income provisions; it takes effect on 1 April 2026 and applies to the tax year 2026-2027 and subsequent years.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Income-tax: rate on income under specified provisions cut from 60% to 30%, effective 1 April 2026.
The amendment substitutes the rate in section 195, reducing the figure from 60% to 30% for income referred to in the designated income provisions; it takes effect on 1 April 2026 and applies to the tax year 2026-2027 and subsequent years.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
