Amendment to interest computation changes periodic interest basis under the Second Schedule of income-tax law effective next assessment year. Amendment revises interest computation under the Second Schedule by substituting annual percentage rates with rates expressed for every month or part of a month, affecting rule 60(1)(a) and rule 68A(3) and altering periodic accrual and calculation practices effective from the specified commencement.
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Amendment to interest computation changes periodic interest basis under the Second Schedule of income-tax law effective next assessment year.
Amendment revises interest computation under the Second Schedule by substituting annual percentage rates with rates expressed for every month or part of a month, affecting rule 60(1)(a) and rule 68A(3) and altering periodic accrual and calculation practices effective from the specified commencement.
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