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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amendment to Section 197A: New Sub-section (1B) Alters Tax Exemption Criteria for Income Exceeding Non-Taxable Limit.</h1> Section 197A of the Income-tax Act is amended to include a new sub-section (1B), effective from June 1, 2002. This amendment specifies that the provisions of section 197A will not apply if the income amount referred to in sub-sections (1) or (1A), or their aggregate, exceeds the maximum amount not chargeable to income tax during the previous year. This change affects how certain incomes are considered for tax exemption under section 197A.
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