Income-tax amendment updates set-off of tax credits to reference sections 206(2)(e)-(h) and 206(3)-(4), effective April 1, 2026. Clause 58 substitutes clause (f) of sub-sections (2) and (4) and clause (e) of sub-section (6) of section 266 so those clauses refer to sections 206(2)(e) to (h) and 206(3) and (4) for the set-off of tax credits, replacing earlier references and aligning section 266 with amendments to the minimum alternate tax regime; the changes take effect from 1 April 2026 and apply to tax year 2026-2027 and subsequent years.
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Income-tax amendment updates set-off of tax credits to reference sections 206(2)(e)-(h) and 206(3)-(4), effective April 1, 2026.
Clause 58 substitutes clause (f) of sub-sections (2) and (4) and clause (e) of sub-section (6) of section 266 so those clauses refer to sections 206(2)(e) to (h) and 206(3) and (4) for the set-off of tax credits, replacing earlier references and aligning section 266 with amendments to the minimum alternate tax regime; the changes take effect from 1 April 2026 and apply to tax year 2026-2027 and subsequent years.
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