Income-tax rate amendment revises multiple section 394 table entries by substituting 2% for earlier prescribed rates. Section 394 of the Income-tax Act is amended in sub-section (1), Table, by substituting 2% for the earlier specified rates against multiple serial numbers. The affected entries under Sl. Nos. 1, 2, 4, 5, 7 and 8 are revised so that the prescribed percentages in the identified column and clauses are aligned to 2%, replacing the earlier 1% and 5% figures and the clause-specific rate under Sl. No. 8.
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Provisions expressly mentioned in the judgment/order text.
Income-tax rate amendment revises multiple section 394 table entries by substituting 2% for earlier prescribed rates.
Section 394 of the Income-tax Act is amended in sub-section (1), Table, by substituting 2% for the earlier specified rates against multiple serial numbers. The affected entries under Sl. Nos. 1, 2, 4, 5, 7 and 8 are revised so that the prescribed percentages in the identified column and clauses are aligned to 2%, replacing the earlier 1% and 5% figures and the clause-specific rate under Sl. No. 8.
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