Income-tax amendment: section 424(f) now covers tax credits under sections 206(2)(e)-(h) and 206(3)-(4), effective April 2026. Clause 81 substitutes clause (f) in sub section (2) of section 424 to read that clause (f) covers any tax credit allowed to be set off as per sections 206(2)(e) to (h) and 206(3) and (4). The amendment is consequential to changes in the minimum alternate tax regime and takes effect from 1 April 2026, applying to the tax year 2026 2027 and subsequent years.
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Income-tax amendment: section 424(f) now covers tax credits under sections 206(2)(e)-(h) and 206(3)-(4), effective April 2026.
Clause 81 substitutes clause (f) in sub section (2) of section 424 to read that clause (f) covers any tax credit allowed to be set off as per sections 206(2)(e) to (h) and 206(3) and (4). The amendment is consequential to changes in the minimum alternate tax regime and takes effect from 1 April 2026, applying to the tax year 2026 2027 and subsequent years.
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